Student's start saving early with Cash ISA's
With the new financial year having begun on the 6th April, it's the perfect time to consider whether you can save a few £££'S this year and if so, how best to do it.
As a student, it's difficult to put aside "X" amount every month rather than go out spend it, but the earlier you start, the greater the lump sum you will have several years down the line when you're looking to buy a new car or have enough for a deposit on a property.
If you've made the decision to save, then you'll want to do it in the most convenient and tax efficient way. Cash ISA's fit this bill and for the tax year 2011/2012, you can save up to £5340 and not pay any tax on the interest you earn from your savings.
Most mainstream banks offer cash isa's but they each have different restrictions and varied interest amounts (currently from 3.30% to 1.75%).
Look at Santander, Nationwide, Halifax, bank of Scotland and ING Direct for some of the most competitive rates as of 6th May 2011.
Ensure you read all the facts, figures and small print before signing up.
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