Withdraws from a ISA???

Ciaran124_2

Hi all one small question I have joined Santander 3.3% ISA, I also made a new bank account with Santander to help tranfer my money more quickly into the ISA.

Want to know if you take money out of the ISA would you lose the money from the interest, if the interest gets payed daily?

Sorry if this is a silly question but just wanna know

Lokolo

You wouldn't lose previous interest, only future.

Vortigern

Ciaran124 wrote: »

Want to know if you take money out of the ISA would you lose the money from the interest, if the interest gets payed daily?

Interest is not paid daily - it's earned daily but only paid annually. As Lokolo says, you won't lose any interest you've already earned, but you won't see it in your account until the annual payment date.

Ciaran124_2

Thanks alot I know it pay annually write it done wrong sorry. But wasnt sure if I wold have lost interest built up if I was to withdraw some money.

But question answered!

lisyloo

You would only lose money if there are penalties on that particular ISA.