Can I pay a monthly amount into an ISA?

emccave

Hi there
I'm probably missing something that's clearly on the website, but can someone tell me whether I am able to pay into a cash ISA a monthly amount, or do I need to deposit a sizable lump sum all in one go?
Thanks

le_loup

Yes you can ... if your account allows it, i. e. you probably can't for a fixed term, fixed rate account.

Gordon_the_Moron

Fixed rate accounts usually only allow one deposit, if not they usually close to new deposits when the issue closes (that doesn't usually take long) but if you open an instant access account you can pay in (up to the annual limit) as and when you like, it is just like a standard savings account except there is a cap on what you can deposit per year and the interest is untaxed.

oldvicar

And when your instant access account is 'full' or the tax year has ended, you can if you want transfer to a fixed term ISA for a better rate