Saving Your Money with best ISA Options

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Saving money is an important part of getting financial security. Saving money is getting ever more difficult with economies in turmoil and increase in inflation and recession. In today’s marketing conditions, more and more people are borrowing and less people are putting money aside than ever before.

best ISA Options

The Individual Savings Account introduced by the UK government is a great option for people who want to save some money and earn interest over it, without having to pay any income tax. There are some amazing benefits which comes with having an ISA :

Advantages of getting a cash ISA :

1. The most important advantage which cash ISA offer is the benefit of having an interest free saving account. There is no income tax to be paid on the interest you earn on the money you save in the cash ISA. That means more and more money work for you.

2. There is one more tax , you get exempted from – Capital Gains Tax. You don’t need to pay capital gains on an ISA savings account. Having a cash ISA help you to save on various types of taxes which we pay on savings and investment accounts.

3. Cash ISA is great way to get a saving account to Save with an ISA which gives higher yield because of the high interest rate paid on the account which is free from income tax duty.

4. Cash ISA also presents an opportunity to invest in stocks and shares. This type of flexibility presents a long term plan for financial security for many people and a cash ISA can offer the kind of investment opportunities which most of the people are looking for.

5. As there is no need to extensively document about the cash ISA account in the tax forms at the end of the year, it makes completing tax forms a much easier and less time consuming process.

6. With a cash ISA savings account you get savings and investment opportunities as well as the tax savings opportunity. This is a great platform to save some money aside and earn a great interest rate at the same time.Cash ISA is a reliable way to save more money every year.

Lloyd TSB is offering amazing plans on Cash ISA. The Cash ISAs accounts available from Lloyds TSB are mentioned following so you can choose the best ISA option :

1. Cash ISA Saver

The total cash ISA allowance is set for £5,760.You can earn upto 1.00% tax free/AER variable. This rate is inclusive of a fixed introductory bonus of 0.50% which is payable for 12 months from the date of account opening.

Withdrawals are possible and interest can be earned on balance over £1.You can amange it online through the convenient internet banking option and you can move previous years ISAs too.

2. Two year fixed rate cash ISAs

This account type comes with fixed rate cash ISA where you can earn Up to 1.90% tax free/AER interest. You can withdraw the the amount from the accounts but there is a charge equivalent to a number of day’s tax free interest applies to withdrawals.

You can earn the interest on the amount over £1 but a minimum lump sum of £3,000 is needed to open the account. Internet banking option and feature of moving previous years ISAs are also offered.

3. Three year fixed rate cash ISAs

It includes the same feature as Two years fixed rate ISAs, plus the interest rate of 2.10 % tax free/AER.

4. Four year fixed rate cash ISAs

Features are similar to three years cash ISAs, with higher interest rate of 2.15% tax free/AER.

Lloyds TSB is offering best cash ISAs in the country and if you are looking to save money which earns you interest which is also tax free, look no further.

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Vishal Gaikar

Article by Vishal

I am Vishal Gaikar, Software Engineer, Web Addicted, Living in Maharashtra, India. If you like This post, you can follow Tricks Machine on Twitter, also you can add me on Google+.

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