Take for example Abbey - they are currently offering savings rates of 7% on their regular saver, which even without a tax break is a good deal. However, if that was done as part of an ISA it would be excellent - OK, lets assume the same restrictions applied to a 7% ISA as to the 7% regular savings account (min/max savings of 20/500 a month, etc), so probably wouldn't be CAT standard - but who cares - I want 7%!
Why don't banks offer ISA's savings rates at the same rate as normal savings?
Nov 20, 2004
1 Replies
It's only 7% for the first year. After that the money gets transferred to another account paying a much lower rate of interest. This probably isn't much use for an ISA.
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required