A&l isa 3.5%

John_3:16

I opened an Isa last week at the 3.5% level Var for a year. After April 6th can I put next years allowance into this same isa at the same 3.5% rate, even though the new rate is 3.2%? Or will i have to open a new isa?

ultrawomble

From their website for the 3.2% rate:

- If you use your Flexible ISA for your 2009/2010 Cash ISA allowance you can use the same account for your 2010/2011 Cash ISA allowance

Sanzai

The rate is fixed for a year from opening the account, so depending on when it was opened, their flexible ISA will give you interest at either 3.5% or 3.2% for the ensuing year.

blueberrypie

A&L's interest rates page only shows the 3.5% rate currently, but it says that rate is valid for balances of £1 - £5100. So if the OP has put anything into the ISA in 09/10, he wouldn't be able to get the same rate on all of his 10/11 allowance. He'd need two separate ISAs for that. I would expect the 3.2% rate to work the same way.