Can someone explain this to me please? Surely you wouldn't just make 20 odd quid after 2 years? What would be the point?
And yes, if I had money to invest I'd ask a financial advisor, this is just for my own curiosity. Thanks
Other ISAs are available, as they say. Cash ISAs do have poor rates at the moment. They do have major Tax benefits, which is why I have them (but not in cash), however I’m not a financial adviser.
Yes, you would. £1000 at 1.4% over two years compound interest gives £28.20.
Unless you are getting over £1000 or £500 (if a higher rate tax payer) pa interest, ISA's offer little benefit. In the good old days you could get 6 or 7%, but I did rather better from FTSE linked bonds.
Post last edited on 04/05/2022 09:58:12
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Quote: Originally posted by navver on 04/5/2022
Premium bonds at least there is a chance of a million.
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Premium bonds don't have as high a chance of a win as they used to; that all changed a while ago. At least they're a safe place for money to sit, while interest rates are so miserable, with a faint chance of a win should the Gods smile on you.
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This year,from January, we are running at 1.6% on our premium bonds...double or more than our cash ISAs.Just need inflation to drop to 1% and I will be rich.
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Topic: Any financial gurus?
via mobile 04/5/2022 at 7:16am
