Cross the ISA finish line with an additional £100 in cashback
As the tax year comes to a end on April 5th UK savers are urged to make use of this year's ISA allowance, whilst searching the markets for additional incentives such as cashback.
In an exclusive deal, Quidco the UK's number one cashback site, is offering customers an additional £100 when they invest in Virgin Money's FTSE Tracker ISA through their site.
The savings product will suit those new to the ISA and investment market. The tracker fund buys shares in every one of the 600 companies listed on the UK's FTSE All Share Index. This makes it appealing to those adverse to risk, as it doesn't put all investment eggs into one basket. New savvy savers will join the £1.8b already invested in the ISA and can pocket as much as £100 for doing so via Quidco.
Since the launch of the FTSE Tracker ISA from Virgin Money in March 1995, customers have received an average return of six percent a year, turning an investment of £3,000 into £7,974. This is a total return on average of 166%. Those that invest the additional £100 cashback from Quidco, can add a further £266 to this total.
Jo Roberts, Head of PR at Quidco said: "Saving into an ISA makes total sense as it is a tax free option and available to all. This year savers can invest up to £5,340 into a cash ISA that the taxman will be unable to touch. In times of austerity, those in a position to save need to use this allowance as it will be gone forever after 5th April."
She continued: "Given recent headlines on poor returns and inflation it is understandable that some will be nervous when parting with hard earned savings. The FTSE All Share ISA from Virgin Money is great for those who are adverse to major risk, as its investments are spread over 600 companies."
All stock market investments can rise and fall. Customers should check the time periods associated with investments and ascertain the period of time associated with expected returns.