Carry on saving In last year ISA and then transfer after it matures?

emzil

Hello there,

I opened an easy access isa middle of last year at 3% guaranteed until July this year. I would like to know if I deposit some of this years allowance into it too thus counting as my 2013-14 isa then can I transfer to another provider in July once interest drops and save the rest of the allowance with the new provider? I'm only going to be saving around £2000 in it between now and July so can I save the further £3570 with the new provider as il transfer this years allowance in full?

Thanks

Em

saintalan

Hi Emzil and welcome to the forum.

The first question you must ask is whether your existing (12/13) ISA is still open to deposits and at the 3% rate.

If so you can add to it and later transfer it to a fund that allows transfers and then add up to this years limit.

Remember you can only have one account that contains the current years deposits.

Cheers

Alan