Savings or ISA?

Question

We are going to save £100 a month for the next 25 years.Are we best putting it in a savings account or ISA?and roughly how much will we get after the 25 years are up?

Answer 1

www.kaupthingedge.co.uk is the best savings option in the uk as it gives the best interest rates (6.5%AER). That is better than most ISA's and it's where I have most of my money, lol! I'm no mathematician though so I can't work out how much you'll have after 25 years...sorry!!

Answer 2

Definitely cash ISA's.  I pay £75 a month into mine and the tax free interest is great!

Answer 3

ISA's have higher interest rates than savings because they are tax free.

You can only put a maximim of £3000 per year though in an ISA but as you said you will only put £100 per month so £1200 per year so that wont be a problem