We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Multiple ISA's
markdeb04
Posts: 3 Newbie
:DMorning All - I currently have an ISA with the Halifax and want to add £5100 in on top of what is already in there and lock the account (or fix the rate). However, the best deal they have is a 2 year one at 3.5% which sounds good but means I wont be able to top up again next year - is it possible to open another ISA with a different institution in April 2011 and still keep the Halifax one open?
Thanks
Thanks
0
Comments
-
Yes. Or you could open a second ISA with Halifax.:DMorning All - I currently have an ISA with the Halifax and want to add £5100 in on top of what is already in there and lock the account (or fix the rate). However, the best deal they have is a 2 year one at 3.5% which sounds good but means I wont be able to top up again next year - is it possible to open another ISA with a different institution in April 2011 and still keep the Halifax one open?
Thanks
Or you could make thing more flexible now:
- you could fix you existing one for 2 years
- you could then open a new one for this tax year that's fixed for a different term (or take out a product elsewhere, e.g. Santander's 3.2% easy access deal)
- and you could open a new one next tax year as well.
Your ISAs don't all have to be the same pot of money in the same account. You can have one per tax year.0 -
Hi everyone,
Is it a good idea to open a cash ISA (£5200) and Shares ISA (£5200) in the current economic climate?0 -
Is it a good idea to open a cash ISA (£5200) and Shares ISA (£5200) in the current economic climate?
£5100 each. However, why do you think that?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
honeyrabbit wrote: »Hi everyone,
Is it a good idea to open a cash ISA (£5200) and Shares ISA (£5200) in the current economic climate?
Maximum ISA contribution is £5100 cash or shares, £10,200 both.
Yes you can open both, a cash ISA will give a guaranteed return:), the Share ISA will depend on both the stock market and the charges taken by the provider. In general, you would need to hold a Shares ISA for a longer term to get a return.
If you are not in a rush to get your money the NS&I certificate, RPI+1%,tax free, fixed for 3 or 5 years, would give you a guaranteed return on your money and stay ahead of inflation.:rotfl:For myself I am an optimist - there does not seem to be much use being anything else.
Sir Winston Churchill0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards