Isa in 10 years time !

ermine

kaz13 wrote: »

and pay in for say three years with one bank, then open another one in another bank the next year and pay into that - I presume that We still get interest on the first accounts as well as the second account ?

Yes, although you will find that the interest on the older account tends to fall. The bank is only (sort of) interested in getting people to open new accounts, so they tend to save money by dropping the interest paid on accounts that have been open for a while. You will get to eat the loss of interest due to this charming practice. There's nothing stopping you moving your Cash ISA to one with a better rate, should you be able to find one, and provided you can retain your FSCS compensation, if that's a requirement for you. Doing the latter will restrict your choice even more.

In practice you'll get hammered on the interest rate you will get for the total. But at least the number will never go down. Just what you can buy with it will fall, due to inflation. But you don't seem concerned with that, so you should be able to achieve your aims, although you will lose money in real terms.