How much money can you make in interest from a mini isa?

Question

I know they say something like 5.something % but what can an individual make over the year???

Answer 1

All depends on if you put in the yearly maximum of £3000.
See http://www.moneysupermarket.com/isa/IsasResults.asp
for a selection of different company interest rates and chose the company that has the best rate ( note they change ).Be careful to check if there are any special terms and conditions before you invest
ie £3000 x 5.8% = £174 interest at the end of the year.

Answer 2

If you put the maximum amount in at the start of the tax year, then about £150 from a mini cash isa, at the end of the year.

Answer 3

cash isa´s will pay out what normal bank interest is paying, so you will be lucky to get 5% after taxes, etc. Try and get some more money together (7K) and get a self select ISA and buy shares, youll get more for your money and capital growth over the long term. (IE - I mean buy blue chip (safe) shares, for a slow but decent return).