A saver's best friends
Article Abstract:
UK savers can obtain good rates from two types of accounts, tax-exempt special savings accounts (Tessas) and postal accounts. Savers can obtain tax benefits from using Tessas, provided they are prepared to commit their funds for five years. They can still obtain good rates from some Tessas even if they withdraw funds before the five years have elapsed. Savers should avoid accounts tied to fixed rates of interest since UK interest rates are rising in 1997. Postal accounts tend to offer better rates than accounts using branches since costs are lower for postal accounts and savers receive some of the benefits. Savers are not able to have instant access to their funds since withdrawals are made by post.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Choosing a Tessa
Article Abstract:
Interest rates and conditions for United Kingdom tax exempt special savings accounts vary, and investors should be alert to the differences. The bigeest category offers variable interest rates, but fixed rate Tessas are attractive for investors who forecast a drop in interest rates. There are also equity linked Tessas which use financial derivatives as well as cash deposits and they may offer better returns if stock prices rise and interest rates fall.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Cashing in on Isas
Article Abstract:
Cash Isas offer investors several advantages, including wholly tax-free savings and the attractive interest rates currently offered. Up to GBP3000 per year can be invested in a cash mini-Isa.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2001
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