Isa question

852318

I have read a few things regarding the 15k allowance before the 6th April.

Does this technically mean if you put 15k into the ISA on the 5th April you would get the full interest or just for that month?

ColdIron

Interest is usually calculated daily, if you are imagining you would get one years interest or even one months worth for just one day, dream on

jimjames

852318 wrote: »

I have read a few things regarding the 15k allowance before the 6th April.

Does this technically mean if you put 15k into the ISA on the 5th April you would get the full interest or just for that month?

What do you mean by "full interest"?

You get paid interest for the time that the money is in your account at the agreed rate. You certainly wouldn't get interest for the month if you only put the money in on 5th April.

Why would a bank pay interest on money that isn't in your account for a period of time?

The allowance is available every year so unless you have many tens of thousands to put into savings there isn't any rush to get in before 5 April.