Santander 2 year Fixed Rate ISA

colsten

where_are_we wrote: »

What interest rate will I get on the new deposit (up to £9060) I make tomorrow to my 123 2Year Fixed Rate ISA which I opened in April with a deposit of £5940 and a fixed rate of 2.3% and maturity date of 1/6/16. I am assuming it will be at the reduced rate of 2% and a new maturity date of 1/7/16. This will in effect give me two 123 2Year Fixed Rate ISA`s with different interest rates for this tax year. Is this correct?

I believe you will get 2.3% AER for all deposits in this ISA, and there is just one single ISA with a single maturity date of 1/6/16. But you should conform this with Santander, not forumites.

where_are_we wrote: »

Have other providers of Fixed Rate ISA`s reduced their rates from April? They know we are a captive market because we cannot open another cash ISA with a new provider this tax year.

Literally all providers have dropped ISA interest rates since March this year.

where_are_we

Thanks colsten, I have just phoned them up and you are correct. If I make a second deposit of £9060 this will receive a 2.3% fixed interest rate and a maturity date of 1/6/16 which is the same as my first deposit in April. Thus all of the £15000 will have one interest rate and one maturity date.

Ashen

When I upgraded my last year ISA to the 2 year fixed, I had to accept terms talking about opening only one ISA per year etc, making it sound as if I couldn't open another one - is this the case? I haven't put any money into an ISA this financial year, except for doing the ISA upgrade.

Basically, do I need to put this year's ISA allowance into my newly upgraded Santander ISA before the deadline, or can I open a completely new ISA to do that?

brewerdave

Ashen wrote: »

When I upgraded my last year ISA to the 2 year fixed, I had to accept terms talking about opening only one ISA per year etc, making it sound as if I couldn't open another one - is this the case? I haven't put any money into an ISA this financial year, except for doing the ISA upgrade.

Basically, do I need to put this year's ISA allowance into my newly upgraded Santander ISA before the deadline, or can I open a completely new ISA to do that?

If you haven't added any new money to the Santander fixed ISA within this tax year, then you can open a new cash ISA with any institution of your choosing and deposit up to £15k (or open a S & S ISA for all or part of the £15k):)

guitarman001

Last interest instalment has finally been paid into my Santander ISA!
So.... that's about £6.1k. I have ~£57k savings so far and £6k in stocks as it is. Since I don't want to risk losing the money and I'm already in TSB&BoS Vantage accounts, TSB 5% account, Nationwide 5% account.. where else do I put the cash!? It's actually overflowing now which (I guess I'm lucky to say!) is a bit of a problem!