Are all ISAs the same?

Question

Are there some which are better than others in terms of interest or the like?All help greatly appreciated.

Answer 1

Depends what sort of ISA. Cash ISAs pay different rates of interest - generally the internet accounts pay more because of lower administrative costs.  each bank also has its own rules about how much you need to invest, whether they are regular savings, lump sum investments, or transfers from other ISAs, etc and some pay a loyalty bonus.

Stocks and shares ISAs depend upon the performance of the underlying investments and are much riskier. Obviously a good (or lucky) fund manager is important here as, unlike the cash ISA,  no particular investment return is guaranteed

Answer 2

yer there all diff ... ask your bank but may have higher interest becoz you can invest in stocks and that way it can gain high interest sometimes though these are unsafe becoz if the company goes down the money is gone... ask your bank and they will provide you with a financial adviser

Answer 3

An ISA is a tax efficient wrapper, so yes they are all the same. The underlying investment can be very varied.

Answer 4

No, there are different kinds.  Some tie up your money.  Interest rates vary.

Answer 5

yes, all isas are completely identical in every way.