Saga ISA ‘good option for over 50s’
Surfers aged 50 and over received welcome news earlier this month after Saga introduced its best-buy online instant access account.
Saga has launched a range of savings solutions for the over-50s allowing them to enjoy attractive returns.
The products, exclusively available to savers aged 50 and above, include the Saga online savings account paying 2.75% which includes a 1% bonus for the first year, and the Saga ISA which pays 2.60% tax free including a 1.00% bonus for the first 18 months.
The Saga ISA Saver is a Cash ISA provided by Birmingham Midshires, that provides savers with unlimited easy access to their funds on investments from £500 up to £5,100 per tax year.
The Saga ISA allows savers to transfer some or all of their previous years subscriptions, so there’s no excuse to be earning a low rate.
Alternatively if you’re lucky enough to be aged under 50 or you want to scour the market for the highest rates, consider the Nationwide ISA. This product is also up in the best-buys for ISAs, offering savers 2.75% on balances between £1 – £5,100. The Nationwide ISA currently offers the best instant access rate for an ISA transfer but savers must either have an existing nationwide account or open one before applying.
Savers will have a hard time finding an instant access cash ISA or standard savings accounts paying more than 3%.
The best ISA rates can be had by those that are happy to lock their savings away in a fixed rate ISA. For example the RBS ISA pays 4% if you invest between £3,600 – £5,100 for 3 years with the option to transfer existing ISAs. This means that if you were to deposit the maximum amount into this account you could earn up to £612 for the 3 year term.
UK Price Comparison website http://www.which4u.co.uk Compares Credit Cards, Savings Accounts, Fixed Rate Bonds, Bank Accounts, ISAs, Loans, Mortgages, Insurance, TV & Broadband and Gas/Electric bills to find the best UK deals
Article from articlesbase.com
www.moneyextra.com Around 1 in 10 people leave their application for an ISA until the last two days before the tax year ends The deadline for ISA application is on April 5th which is Easter Monday and a bank holiday.
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