News Categories

• Banking
• Breakdown Cover
• Car Insurance
• Credit Cards
• Home Insurance
• Insurance
• Life Insurance
• Loans
• Money
• Mortgages
• Pensions
• Pet Insurance
• Travel Insurance

News Archive

• February 2012
• January 2012
• December 2011
• November 2011
• October 2011
• September 2011
• August 2011
• July 2011
• June 2011
• May 2011
• April 2011
• March 2011

Newsletter

Isa limit increases 'good for savers'

By Sarah Engle, Wed 16 Apr 2008 - Published in Banking

An increase in the annual subscription limit for individual savings accounts (Isas) is an encouraging move for savers, an expert has said.

Roy Beale, the media relations manager at Nationwide, said the increase has allowed people to invest more money in savings.

"There is the possibility of greater returns on stocks and shares compared to cash," said Mr Beale. "However, this is not guaranteed and once funds are transferred from a cash Isa to a stocks and shares Isa they cannot be transferred back."

In a cash Isa, consumers can now invest £3,600, up from £3,000 last year, whereas the total limit in a stocks and shares Isa has gone up to £7,200 from £7,000.

Figures from HM Revenue and Customs suggest that the amount of money saved in Isas across the country now totals some £208 billion.

According to research from Nationwide, some 62 per cent of people in the UK do not have an Isa.