When to pay into a NISA

bowlhead99

Yes, and I'd agree with your original post above.

If you can't be bothered with opening quite so many accounts as TSB + TSB + Nationwide to totally maximise the interest, then the whole £6k in 1x Santander gives you 90% of the interest that the two TSBs would provide (assuming you pay a bill or two through it to allow your cashback to more than cover the £2pm per month fee) - the main benefit is that you can stick with it as your pot gets bigger. I'm in favour of an easy life which is why I suggested it, even if it doesn't quite qualify me as a M.S.E.

Muttontop

Thanks guys for all of your input and advice. I know £6k is not a lot but my main concern was that if I put it into a NISA now that I would not get any interest on it for this year (wasn't sure whether or not the money had to be in the account at or before the beginning of the tax year to qualify for interest). The TSB or Santander options look good, I'll look into them to see what the T&C's are.
Cheers

Archi_Bald

You get interest for every day your money is in an account that pays interest, whether the account is a current account or a savings account.