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How is the interest for an ISA calculated?

Hi,

The 5th of April dead line for ISA payment is closing and I have not yet filled my ISA. But if I pay in the full £3k in next week then will the interest of 5.5% with Bristol & Wests new deal be calculated for the whole year = £165? Or will the interest be calculated for few weeks unitll April 5th?

regards
Guiding friends to joys and happiness of good life
www . loveofgoodlife . org

Comments

  • deemy2004
    deemy2004 Posts: 6,201 Forumite
    LOL :D

    Sorry........ :o

    No your interest is calculated only on the time it is actually on deposit with the institution... i.e. on a daily basis.
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    deemy2004 wrote:
    LOL :D

    Sorry........ :o

    No your interest is calculated only on the time it is actually on deposit with the institution... i.e. on a daily basis.

    That's the sort thing they can have trouble grasping at the Financial Times too, y'know!
    .....under construction.... COVID is a [discontinued] scam
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