ISA Savings Rates Can Enhance Your Investing
ISA Savings Rates and Cash ISA’s
Cash ISA’s are a standard savings account except no taxes on any interest earned. People can save/invest a limited amount of money without paying taxes on the returns. Up to 5,100 can be invested in a Cash ISA per year. Like normal savings accounts there’s a variety of cash ISAs available, such as instant access, fixed rate, and accounts with base rate * guarantees.
*Base Rate is the standard UK interest rate set by the Monetary Policy Committee of the Bank of England. They meet each month to decide whether the rate should move or stay the same, in order to keep inflation (Consumer Prices Index) as near to 2% as possible. Currently 0.5