ISA interest querie

stevenatleven

Having retired last year I am building up my ISA stake.The first payment of
interest was made this April after one year.It is only a few hundred pounds
and it has been added to the 2 ISAs (one in my wifes name)
As I understand it the limit is £5100,so does anything over that amount earn interest
Should I/can i take the interest out and put it in another high interest
account I have.
Thanks in advance

anamenottaken

All your capital (original deposit plus interest) will receive interest.

The £5,100 is the total amount you can add from outside the ISA each year.

Do check the rate of interest you are now receiving: it may be worth moving to a better paying account.

CLAPTON

the ISA limit of 5,100 applies to NEW money that you can add during the tax year only and does not include interest so you can leave the interest there without concern

stevenatleven

Thanks for the explantion.
As it is not to bad a rate 3.5% over 2 years I will just leave it for the term.