ISA Rates Fall Below Inflation
In response to the news that Cash ISAs are now offering a ‘dismal and depressing’ average return of just 1.03%, which is noticeably lower than the UK’s 2.7% RPI rate, many savers are now in search of a more lucrative option before the new tax year starts in April.
For those looking to achieve a higher rate of return on their savings without losing the tax-free wrapper, an Innovative Finance ISA is an impressive alternative. Kuflink’s IF-ISA offers rates of up to 5.35% interest pa* and, as Kuflink won’t charge you to transfer your existing ISA to us, there has never been a better time to stop watching your money underperform in a traditional Cash ISA!
Why waste your tax-free allowance earning 1% interest?
A traditional Cash ISA earns you around a 1% return, which means that even if you invested your entire £20,000 annual allowance, you will only receive £200 interest at the end of the year. In comparison, investing the same amount of money in to Kuflink’s IF-ISA could earn you up to £1,070 pa* – that’s more than five times the average return!
What’s more, you won’t need to lock your money away for decades to see a great return; Kuflink investors are offered the choice of a 1, 3 or 5-year fixed term ISA, with interest rates ranging from 3.99% to 5.35%. *
Kuflink CEO, Narinder Khattoare, shared his thoughts on the long-running disappointment some ISA account holders have faced – “Savers have put up with many years of sub-par returns and are understandably starting to look elsewhere for better deals. People have realised that there are lots of accounts offering both higher rates and more flexibility than their Cash ISA, and that’s just one of the reasons why HMRC has fully authorised the Kuflink IF-ISA”.
The 2018/19 tax years begins in April, which gives those in search of tax-free interest and flexible terms just enough time to arrange their free ISA transfer to the Kuflink IF-ISA. To get started today, simply sign up to the Kuflink platform.
*Capital is at risk. Rates correct as of 15/02/18, 5.35% pa based on a 5-year fixed-term investment. Past returns are not a guide to future returns. Tax treatment depends on individual circumstances and may be subject to change in future. Please seek independent financial advice.