Can I top up a previous ISA
SueDerbyshire
Posts: 254
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Hi,
I have a Santander 3 year Fixed ISA and because the rates this year are so low was wondering if I can top up my Santander ISA from last year with this years allowance? (Not a transfer in)
Does anyone know If this is possible or does it matter which particular ISA it is?
Thank you in advance for any help.
Sue
I have a Santander 3 year Fixed ISA and because the rates this year are so low was wondering if I can top up my Santander ISA from last year with this years allowance? (Not a transfer in)
Does anyone know If this is possible or does it matter which particular ISA it is?
Thank you in advance for any help.
Sue
0
Comments
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Santander did do an offer where each year you could deposit your new allowance. But I am not certain, and it would depend on your ISA.
Do you still have the T&C booklet you got when opening the account?
edit - I also think you only had 14 days to do so, which has past. So I reckon the answer is a no.0 -
Thanks for your reply.
I thought I had read that somewhere, hence the question but wasn't sure. I will check the T & C's which I will have hidden somewhere.
Thanks again for your prompt reply.
Sue0 -
The only fixed term ISAallowing depsoits in mutiple years that I am aware of is the Lloyds 2-year ISA.
But it's a matter of checking the T&Cs you signed up for.0 -
Thank you for both your replies.
I thought I better check with Santander, their terms and conditions were a little unclear. Anyway, just incase anyone else would like to know, you can not add this years allowance to last years account, just as I was advised.
I have some savings currently receiving 3.06% interest and this account matures at the end of June, I was going to take my allowance for this year from that account and place it into a new ISA account but because of the low interest I have decided to leave it where it is for now and hope the interest increases in the near future or before this account matures. I don't have to pay tax so it doesn't make any difference to me either way.
I hope someone finds this useful.
Sue0
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