Best savings account?

Jokester said:
Reducing cash ISA limits but maintaining the S&S ISA limit would encourage investing into S&S ISAs instead, some of that money would end up invested in the UK stocks, even if it's only 10-20%. But yes, UK stocks have a wretched performance.

Edit : Seemingly the idea was mooted by “city executives” in a recent meeting with Rachel from Accounts to discuss boosting economic growth.
Click to expand...
So just leave it as cash in a S&S ISA wrapper then :D the returns are very similiar for most platforms (cash ISA vs cash in a S&S ISA)
 
200sols said:
Nobody is denying the ability... but it makes no sense for the UK to provide huge tax breaks for people investing in the US. When you think it about it its actually insane, then when you add on top UK stamp duty means its more expensive for people to purchase UK stocks. Crazy.
Click to expand...


Stamp duty? that's when buying a house, if applicable?

But anyway... I wouldn't invest 100% in the USA either... You could invest in S&P500, but that's all USA and pretty much all USA tech... equally un-diverse.

A lot of global ETF's are quite heavily weighted toward tech and geographically toward the USA anyway, so ...S&P500 is not so appealing unless you want to try to 'game the markets'.

A better portfolio might be within a stocks and share ISA wrapper -

30% into a global ETF
20% into a Europe ETF
20% into an Asia-Pacific ETF
10% into a developing markets ETF
And the other 20% into whatever you feel lucky with, maybe green/eco friendly ETF's or other 'ethical' ETF funds.

Just an example off the top of my head... and there will be some cross-over with some of them, so it depends on what you want... I sure as hell wouldn't go 'all-in' on UK stocks, that would be financial suicide.
 
Last edited:
200sols said:
You pay stamp duty when buying UK shares.


Remember this is about moving some money from cash ISAs into UK assets, the performance of even UK indices is well ahead of cash long term.
Click to expand...
Isn't this what banking institutes do with your cash isa money anyways?
 
ci_newman said:
So just leave it as cash in a S&S ISA wrapper then :D the returns are very similiar for most platforms (cash ISA vs cash in a S&S ISA)
Click to expand...
Not really. Quick check of the popular platforms shows cash interest rate is way less. Vanguard pay 2.2%, HL and AJ bell pay tiered rates, its barely above 3% for £100k, upto £10k its like 2%. To get a higher return on cash you'd at least have to put it into a money market fund a bit like T212 do.
 
So my zopa app has now updated showing the new rates


Cash ISA is now 4.30%

my normal savings account with ZOPA is now 3.75%

Even though im a higher rate tax payer, im looking around for a new regular savngs account with a better rate, even though i can only earn £500 interest PA without then having to pay tax. Ill have a scout around as currently in my normal savings account i have £23k, although some of these funds will be going on a car soon. the ISA is around £40,100 at the moment


i dont really want to do an ISA transfer at the moment, maybe in a couple of months though
 
Is it worth switching my normal savings account from zopa to chip - 4.58% ? what are chip like? have they already done their rate reductions? deposits are min £1, max £1mil - open via app, interest paid montly

Edit I have signed up
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom