Cash ISA
A savings account where the interest you earn isn't taxed, up to an annual allowance.
Benefits
- • Interest earned is tax-free up to the annual limit
- • Often still easy-access, depending on the specific ISA
Limitations
- • Annual contribution limit
- • Rates aren't always better than a standard easy-access account
May suit you if…
- • You're already using up other tax-free savings allowances
- • You want to shelter interest from tax as your savings grow
May not suit you if…
- • Your savings are well within standard tax-free interest limits already
This describes a type of product in general terms, not a specific provider or offer.
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