Will this trigger a tax-free savings war? Marcus Bank now opens its near-best buy Isa paying 0.4% up to EVERYONE after it launched the account last week Tax-free account from Marcus was finally launched after two years of waiting It was initially open to existing customers only It still does not accept transfers but the … Read more
Marcus Bank will FINALLY launch a best buy cash Isa next week after two years of hinting – will it help trigger a tax-free savings war? The bank will pay 0.4% tax-free interest to savers from 6 April onwards It does not allow previous year’s transfers or non-Marcus customers Marcus first hired a Isa product … Read more
Well, if the past year has taught us anything, it’s how important it is to have a cash fund set aside for emergencies. So while savings rates may have fallen to pitiful lows, it would be unwise to abandon cash altogether. Each year, savers plough millions of pounds into tax-free cash Isas. But the once-popular … Read more
I have always been a saver. I remember, as a boy, crossing the road from our home/surgery – my father was a doctor – to buy savings stamps, endeavouring to fill a book. At age 16 I bought my first shares – £45 worth of ship owner Aviation & Shipping — a company which owned … Read more
Hard-up savers who need to raid their Lifetime Isa pot will soon be charged their own money to do so again to ‘discourage withdrawals’ and ‘protect its status as a long-term savings product’, the Government has said. It said the penalty for withdrawing money from the tax-free account would be increased back up to 25 … Read more
The Chancellor should use next week’s Budget to simplify the Isa system and scrap the trend of having one for ‘almost every day of the week’, savings industry experts have said. Figures including Andy Bell, chief executive of DIY investment platform AJ Bell, and former pensions minister Baroness Altmann, told This is Money the tax-free … Read more
Worst year yet for cash Isa savers: Big banks paid just 38 pence interest on each £1,000 in 2020 By Sylvia Morris For The Daily Mail Published: 22:00 GMT, 15 December 2020 | Updated: 22:36 GMT, 15 December 2020 Britain’s biggest banks will pay savers as little as 38 pence interest on each £1,000 in … Read more
Savers shun rock-bottom savings rates and plough cash into stocks and shares ISAs By Lucy White For The Daily Mail Published: 22:10 BST, 20 October 2020 | Updated: 22:30 BST, 20 October 2020 Business is booming for investment platforms as savers who stored up extra cash over lockdown flocked to the markets to put it … Read more
More green shoots have appeared in the savings market as the recent revival in fixed-term savings rates has continued over the last week. Challenger banks have continued to increase their rates on short-term fixed-rate deals while best buy tax-free Isas have also been launched. Experts said the presence of Treasury-backed National Savings & Investments at … Read more
Cash Isas loose their sparkle: Dismal returns mean you can now earn more with an ordinary savings account By Sylvia Morris For The Daily Mail Published: 22:01 BST, 7 July 2020 | Updated: 22:01 BST, 7 July 2020 Savers are pulling cash out of Isas at a record pace after rates plummeted. The dismal returns … Read more