ISA savings accounts are 'a good option'
ISA savings accounts are a great way for people to make the most of their money, according to one chartered financial adviser.
ISA savings accounts are a good option for people in the UK who are looking to get the most out of their savings, according to one financial adviser.Sharon Bratley, a chartered financial planner for the website Fairinvestment.co.uk, said: "For those who can afford to save and invest, ISAs are a great way to make the most of your tax free savings allowance."
ISA savings accounts allow people to earn tax-free interest on savings of up to £3,600 in cash, as well as £3,600 in stocks and shares investments.
Recently, Alistair Darling announced an increase in this limit for the over-50s, meaning their tax-free interest allowance is now up to £5,200 in cash savings.
Ms Bratley added: "Meanwhile, cash ISAs are still offering interest rates of more than three per cent."
The tax-free interest threshold on ISA savings accounts will be increased for the remainder of the population from the start of the next financial year.
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