3 year ISA maturing.

joshly

I have a 3 year ISA maturing in January 2015.


It is paying 3.7% P.A.
If I reinvest the funds will I carry on getting 3.75%?


Any new ISA's with my bank are only paying between 1.05 and 1.75% depending on the duration.

Archi_Bald

The T&Cs of your ISA will specify what happens at maturity. Usually the money gets automatically transferred into an instant access ISA at the same provider, for you to do whatever you would like to do with it. The instant access ISA will have a much lower rate.

robotrobo

joshly wrote: »

I have a 3 year ISA maturing in January 2015.


It is paying 3.7% P.A.
If I reinvest the funds will I carry on getting 3.75%?


Any new ISA's with my bank are only paying between 1.05 and 1.75% depending on the duration.

Possibly if you invest for 5years,otherwise the rates are like you have quoted or less

robotrobo

bsod wrote: »

no you won't

Your right bod ,not in the same account,

Archi_Bald

robotrobo wrote: »

Your right bod ,not in the same account,

nor in any other ISA presently on the market

xylophone

http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

See above.

enthusiasticsaver

No probably not unless they offer it. My fixed rate ISA (2 year) with Santander paying 3% matures in May 2015 and I do not anticipate getting 3% on that. Shop around and move it if your current provider does not do a decent rate.

joshly

Thanks for the replies, that answers my question.


I currently have open an online saver that pays 1% with no restrictions and can add and withdraw whenever I like.


I am not a tax payer so get the interest paid Gross.


I saw on this website that there are some banks offering current accounts that pay 3-4% P.A but they require a certain amount be paid in per month so that counts me out as I do not have an income.


Anyone know where I can get 3% plus on £15,000 without tying it up and without the need to pay in a certain amount per a month?

PeacefulWaters

joshly wrote: »

Thanks for the replies, that answers my question.


I currently have open an online saver that pays 1% with no restrictions and can add and withdraw whenever I like.


I am not a tax payer so get the interest paid Gross.


I saw on this website that there are some banks offering current accounts that pay 3-4% P.A but they require a certain amount be paid in per month so that counts me out as I do not have an income.


Anyone know where I can get 3% plus on £15,000 without tying it up and without the need to pay in a certain amount per a month?

Most of these current accounts will accept any source of credit. You can move the same money between multiple current accounts in a ten minute period of swashbuckling faster payment excitement to trigger the interest payments, returning the money to where it started at the end.

jimjames

joshly wrote: »

Thanks for the replies, that answers my question.


I currently have open an online saver that pays 1% with no restrictions and can add and withdraw whenever I like.


I am not a tax payer so get the interest paid Gross.


I saw on this website that there are some banks offering current accounts that pay 3-4% P.A but they require a certain amount be paid in per month so that counts me out as I do not have an income.


Anyone know where I can get 3% plus on £15,000 without tying it up and without the need to pay in a certain amount per a month?

You don't need an income for current accounts, purely to pay money in.

You can get 4% on equity income funds in a S&S ISA and can access money at any time but should invest with the plan for 5 years plus. If you're repeatedly doing fixed rates for 3-5 years this may be worth looking at for some of your money. Capital isn't guaranteed but depends if income is more important

joshly

PeacefulWaters wrote: »

Most of these current accounts will accept any source of credit. You can move the same money between multiple current accounts in a ten minute period of swashbuckling faster payment excitement to trigger the interest payments, returning the money to where it started at the end.

Thanks, that's a possible way round the problem.


Santander offer 3% if 2 DD's are set up and £500 is paid in per month.
Would Santander frown on me sending £500 to my existing low interest account with another bank and then sending it back to Santander the next day?


I just noticed there is a maximum of £450 interest allowed a year after fees.