An ISA is a type of savings account which is not taxed by the government. The government sets a limit on the amount of money you can save in any one tax year. The tax year runs from 6 April one year until 5 April the following year.
An interest rate is the amount of money paid by or paid to your bank or building society for the use of money and is most often expressed as a percentage rate. You can receive interest on the money you save, but will pay interest on money borrowed. Interest rates vary across financial service providers […]
These are a type of savings account designed for people to save for their first home. You can pay in up to £200 per month (plus a lump sum of £1,200 in the first month) and the Government will add a bonus of 25% when you buy a house. The bonus is capped at £3,000, […]
The Financial Services Compensation Scheme was established under the Financial Services and Markets Act 2000. Its purpose is to protect your deposits should your financial institution be unable to repay them. Your eligible deposits are protected up to a total of £85,000 per depositor.
The FCA is the Financial Conduct Authority, a regulatory body in the UK. The FCA regulates financial firms providing financial services to consumers and operates independently of the government.