5 smart reasons to start saving for your future today
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Saving for your future is essential, and now’s the perfect time to start. With Trading 212 offering an impressive 5.10% interest on ISA deposits for a limited time, you can grow your money, beat inflation, and secure your financial goals, all tax-free! Here’s how...
![[Depositing money into a cash ISA like Trading 212’s means your savings get more valuable over time]](https://static.independent.co.uk/2025/01/20/15/GettyImages-898315772.jpg)
In these turbulent economic times, efficient saving can give you a cushion against all manner of unexpected (and increasingly expensive) eventualities. It also means that you are putting your money to work, earning interest as you go. One of the most popular ways to save is by subscribing to a cash ISA, which is just like a savings account, but with the added benefit of never having to pay tax on the interest you earn. A cash ISA allows you to save up to £20,000 a year, and with Trading 212 offering an impressive 5.10% interest rate on ISA deposits for a limited time, now is the time to start….
![[Whether you’re wedding planning a wedding or hoping to buy a house, having a healthy pot of money enables you to move faster and think bigger]](https://static.independent.co.uk/2025/01/20/15/GettyImages-1414921475.jpg)
Typical current accounts pay very low rates of interest – often 1.5% or less[1] – and those that offer more may cap the amount you can save, or limit the time that you’re able to benefit from the higher rates. With inflation currently at 2.5%, any savings paying less than that are diminishing in value year-on-year, which makes looking for a better rate even more urgent. The beauty of a cash ISA like Trading 212’s is that it’s currently outpacing inflation, ensuring that your savings get more valuable over time.
Cash ISAs like Trading 212’s offering are covered by the Financial Services Compensation Scheme which means that if they go out of business the FSCS will step in to pay compensation. Independent and backed by the government, the FSCS protects up to £85,000 per person, per institution, and their service is free to use.
