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High interests ISAs

  • 02 September at 02:01 - by GaiL.N - 205 views

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Hi everyone, I really need some experienced advice.  I have £20,000 that I want to put in an ISA, but there are so many different companies out there.  I want my money to be safe, and I want to get at it again in the short term. What does everyone think are the best options?

15 Answers

it really depends on how high a risk you want to take.  You can invest up to £20,000 tax free, as far as I am aware.  However, often you'll find with the higher percentage return comes higher risk

03 September at 14:18 - by briantopher

thought that ISAs were a safe bet though?

03 September at 14:41 - by  GaiL.N

not always, it depends on the company, because if you invest in bonds, then they don't always guarantee your money.  My advice would be to always read the small print, because if something looks too good to be true, it usually is

03 September at 16:00 - by briantopher

ISAs are not safe?

04 September at 11:58 - by mrskd1979

no I'm not saying that, it's just you'll find that the ones offering high percentage return have small print where it says something like your capital is at risk

04 September at 12:23 - by briantopher

what about bank ISAs?

04 September at 12:47 - by  GaiL.N

as long as the financial institution is covered by the FSCS then you are covered for up to £85,000 I think.  You should check, but as long as it's a bank or building soc covered by UK regulations, you should be fine, plus you should only worry if the bank goes under.

04 September at 15:20 - by briantopher

im completely confused we not talking about banks

06 September at 11:10 - by Kath-Middleton

I'm open to all suggestions.  I think your safer with banks though

06 September at 11:49 - by  GaiL.N

this is what I'm trying to explain, although some finance houses will offer higher rates, your capital isn't always safe,  how do you think they get that sort of return in the first place? There has to be an element of venture capitalism. Banks are much safer, and not only that, and although you may earn less, you are taking on less risk even if the very worst happens.

07 September at 00:33 - by briantopher

what u mean

08 September at 09:13 - by Kath-Middleton

IF THE BANK GOES BUST!!!

08 September at 09:40 - by briantopher

ok

08 September at 09:52 - by Kath-Middleton

so the lower the return the less risk

09 September at 10:03 - by mrskd1979

YES!!

09 September at 10:34 - by briantopher
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