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Halifax ISA Upgrade

Options
I current have the Instant ISA Saver with Halifax which pays a paltry 0.25% interest. I have about £14,000 in this account but have seen on the Halifax Website that I can upgrade to the Online ISA with a slightly better 1.0% (and 0.80% 12 month bonus).

As the Tax year is almost ended, i'm just wondering as to whether I should upgrade now or wait until after April 5th. Will I still get the 0.25% interest if I upgrade? Also, does upgrading the account mean that you are using up your £15k allowance, therefore i'll only be able to put £1,000 in by the 5th of April? It takes 5 working days for the upgrade.

Thanks.
House Deposit: £28,000 and still saving!

Comments

  • eskbanker
    eskbanker Posts: 37,059 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    compbren wrote: »
    As the Tax year is almost ended, i'm just wondering as to whether I should upgrade now or wait until after April 5th. Will I still get the 0.25% interest if I upgrade?
    Yes, interest will be earned daily.
    compbren wrote: »
    Also, does upgrading the account mean that you are using up your £15k allowance, therefore i'll only be able to put £1,000 in by the 5th of April?
    Upgrading/transferring the account has no effect on the annual allowance for new contributions.
  • jimjames
    jimjames Posts: 18,650 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Are you aware you can get 3% with Santander? It's not an ISA but way better than the 1% you're quoting.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • frank777
    frank777 Posts: 296 Forumite
    edited 26 March 2015 at 10:49AM
    Maybe a Halifax Prize Draw Fan -TWO ADDITIONAL TOP PRIZES OF £500,000 IN THE JUNE 2015 SUPERDRAW Hold £5,000 in qualifying accounts for the whole of the calendar month before a draw, and meet our other qualifying conditions

    To renew existing ISA use this LINK -

    http://www.halifax.co.uk/isas/options-for-existing-customers/convert/

    takes up to 5 working days and the new interest will apply from that point
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