FD Reg 7% ISA

SparciaM

If I paid £300pm into this ISA (totalling £3600), how much interest at 7% would I get?

I did have an 8% regular saver with a total balance of £2000 in at the end and the interest was just under £90 after tax. I'm wondering if a 7% reg ISA will be more interest than say a 4 or 5% normal ISA.

Lansdowne

'Pends where you're keeping the rest of the £3600 while you wait to put it in at 300 per month. Is the £300 per month what you are saving from income, or is it already in hand.?

Are you quoting £300/£3600 because of the ISA limit? In which case £3600 is an irrelevant figure, because there are only 3/4 months left of this ISA year. You could, if you have the money, put £400 per mth in - £1200 for this year's ISA and £3600 for the new year's one. You just need to work out the whole range of possibilities.

Baldur

Lansdowne wrote: »

You could, if you have the money, put £400 per mth in...

The maximum monthly subscription is £300 - http://www.firstdirect.com/savings/regular-saver-isa-overview.shtml

Milarky

SparciaM wrote: »

If I paid £300pm into this ISA (totalling £3600), how much interest at 7% would I get?

£136.50 after 12 months. (Remember that you will also earn interest on the total amount invested for the period of time it is outside the ISA account. eg If you earned 4.5% on outside cash that would add £74.25 gross - but not part of the ISA itself)