Isa or savings account
6 posts
Page 1 of 1
Jessicamj wrote:Sorry for the 1000000th question.
Just wondering which one would be better
Isa or basic savings account?
Thanks
While in an IVA I would go for a basic, instant Access, savings account --- you might need to call on modest savings for an emergency --- and you won't be able to save enough to make any impact on interest rate gains between products.
Foggy wrote:Jessicamj wrote:Sorry for the 1000000th question.
Just wondering which one would be better
Isa or basic savings account?
Thanks
While in an IVA I would go for a basic, instant Access, savings account --- you might need to call on modest savings for an emergency --- and you won't be able to save enough to make any impact on interest rate gains between products.
Ok Thankyou, so an isa is a no-go?
Jessicamj wrote:Foggy wrote:Jessicamj wrote:Sorry for the 1000000th question.
Just wondering which one would be better
Isa or basic savings account?
Thanks
While in an IVA I would go for a basic, instant Access, savings account --- you might need to call on modest savings for an emergency --- and you won't be able to save enough to make any impact on interest rate gains between products.
Ok Thankyou, so an isa is a no-go?
It isn't a no go if that is what you want ... but best to avoid any account where there are limits on withdrawals. If you manage to save a modest nest egg you might need to get hold of it quickly. Remember, if the car breaks down there is no longer a credit card to pay the garage !
Foggy wrote:Jessicamj wrote:Foggy wrote:
While in an IVA I would go for a basic, instant Access, savings account --- you might need to call on modest savings for an emergency --- and you won't be able to save enough to make any impact on interest rate gains between products.
Ok Thankyou, so an isa is a no-go?
It isn't a no go if that is what you want ... but best to avoid any account where there are limits on withdrawals. If you manage to save a modest nest egg you might need to get hold of it quickly. Remember, if the car breaks down there is no longer a credit card to pay the garage !
Oh ok i see what you mean, i have my new bank account with lloyds, they have instant ulminited withdrawals on one of there isa accounts
6 posts
Page 1 of 1
Who is online
Users browsing this forum: No registered users and 13 guestsAsk the IVA Experts a Question
Simply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location