Top Savings ISA Rates - Up to 8 percent? Too good to be true?

By J Drew -
A website advert called Top Savings/ISA Rates is claiming that there are savings accounts paying 8 percent fixed interest. This is blatantly untrue and the accounts they link to are not savings accounts, they are not FSCS protected and your money is at risk - there is the potential that you could lose all your money as any guarantees are worthless when they are unregulated investments and not protected by FSCS.

The links provided make many mentions of the word "savings" but no equally prominent warnings about the risks involved. Everything on the advert is implying that the rate is fixed and is a savings account - most people will assume ISA means cash ISA especially when it refers to a rate of 8%, S&S ISAs don't pay a rate as they benefit from investment growth.
Top Savings ISA Rates - Up to 8 percent?
Top Savings ISA Rates - Up to 8 percent?

London Capital Savings ISA Rates - Up to 8 percent?

Companies advertising such products include London Capital and Finance and Blackmore Bonds. These are both risky investments that are more risky than investing in the stock market via funds in a Shares ISA.

If you are looking at either of these investments instead of savings then you should make sure you are fully aware of the risks involved and prepared to lose money.

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