Split savings between different types of ISA, expert advises

Money News

www.moneynews.co.uk > Banking > Split savings between different types of ISA, expert advises

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Split savings between different types of ISA, expert advises

A finance expert has advised that customers split their savings between stocks and shares ISAs and cash ISAs in order to take full advantage of their tax-free savings allowance.

Sharon Bratley, a chartered financial planner for Fairinvestment.co.uk, claimed that investing in both stocks and shares ISAs and cash ISAs can help minimise the risk savers face.

She added: "People can invest up to £3,600 in a cash ISA and know that their cash is secure.

"However, because interest rates on savings accounts, including cash ISAs, are at historically low levels, it could be a smart move to top this up with a stocks and shares ISA."

Cash ISAs allow savers to earn tax-free interest on savings of up to £3,600 every year. Savers who invest in a stocks and shares ISA as well can double this total, boosting their tax-free savings allowance to £7,200 per year.

Click here for more banking newsADNFCR-323-ID-19089545-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet