payment on 2 year fixed ISA's?

riza

Hi all, I'm new to ISA's so bear with me. I just wanted to know when is the interest paid out on a 2 (or more) year ISA. Is it at the end of the 2 year period or is it paid yearly?

thanks in advanced.

saintalan

Hi riza

Probably annually but check your T&Cs. or let us know what the ISA is and someone may know.

Cheers

Alan

riza

Hi, I'm looking to get the 2 yr with Santander.I did have a look but need some clarity.

thanks

KonkyWonky

It's paid yearly, can't think of any ISA where the interest is accrued over the term of the ISA.

POPPYOSCAR

I have a 2yr fixed with Santander taken out last year.

I had a letter about this recently, I will see if I can find it and come back.

POPPYOSCAR

My Statement says that annual interest will be paid on 1st May and will be included in the next statement march next year.


So yes the interest is paid annually.

innovate

riza wrote: »

Hi, I'm looking to get the 2 yr with Santander.I did have a look but need some clarity.

Where did you look? Here? http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223430780770&cachecontrol=immediate&ssbinary=true&maxage=3600

What clarity is missing?

saintalan

riza wrote: »

Hi all, I'm new to ISA's so bear with me. I just wanted to know when is the interest paid out on a 2 (or more) year ISA. Is it at the end of the 2 year period or is it paid yearly?

thanks in advanced.

Hi again

From the online document:

Interest payment Interest is calculated daily and added to the account on 1 May annually.

Remember though its a 2 year fixed so you cant get it out before without penalty!

Cheers

Alan