ISA Question

jturner44

Hi,

I have always saved into ISA's just before the current tax year's deadline so they always mature (1 yr fixed rate bonds - Nationwide) at the same time. My question is - If I add to this years ISA now does this allowance mature in April with the rest (i.e. all ISA annual payments occur in April) or does it mature this time next year?

If the latter then if you choose to invest at different times of year every tax year I guess there is a lot of maturing going on month to month which would need managing?

Thanks in advance

Justin

Lokolo

What do you mean by maturing? Pay interest? Or end of fixed period?

The word maturing usually is only used for fixed ISAs.

What managing will exactly have to be done if they mature month on month?

jturner44

Sorry for confusion Perhaps bad use of the word mature. My ISA'a are 1yr Fixed Bonds so the fixed period ends in and around April as a result of always starting them at this time. By managing I mean that every time they end I have to instruct NW what I want to do with them (i.e. what terms to continue the ISA). My point was, if they end at different times of year as a result of investing at different times of year then there will be more times you need to instruct the Bank/BS what you want to continue/discontinue with?

Thanks

Justin

jem16

jturner44 wrote: »

If I add to this years ISA now does this allowance mature in April with the rest (i.e. all ISA annual payments occur in April) or does it mature this time next year?

Most fixed rates will not allow you to add anything after the initial deposit.

However if it does allow you to add to it I would expect it to mature in one year from wehen the initial deposit was made.