Top Cash ISAs Discussion Area

fryery

Hello to all of you; My question is;
I've taken a cash mini Isa in March 2006 so that covers the 2006-07 tax year,
interest is paid monthly into the ISA account, now, what I really like to know is this;

A) Can I add in March £3000 to this same Isa account to cover 2007/08 or do I have to open a new account? and also on April 6th can I add £ 3600??? for 2008/09.
I guess what I'm trying to say is whether It has to be a separate Isa for each year or you can keep adding to the same ISA account.

the monthly interest paid into the account will come to about £ 150 next month, does this mean that I have to add only £ 2850 to make the £ 3000. or i have to withdraw the interest and make full £ 3000. deposit.

Thanks for all the help you can give me

ctdctd

fryery wrote: »

A) Can I add in March £3000 to this same Isa account to cover 2007/08 or do I have to open a new account? and also on April 6th can I add £ 3600??? for 2008/09.


the monthly interest paid into the account will come to about £ 150 next month, does this mean that I have to add only £ 2850 to make the £ 3000. or i have to withdraw the interest and make full £ 3000. deposit.

A) You can add to the same ISA if it is still open for new investment. Check with your bank. Also check it still offers a good rate.

You can add another £3000 for 07/08 before April 5th and £3600 for 08/09 on or after April 5th. Interest does not count.

setmefree2

Hi

We currently have a Cash ISA with Yorkshire Building Society - interest rate 5.35%...thinking about moving it in next tax year any suggestions? Is it worth moving to the Alliance & Leicester say for an extra 6.25%?

Thx

SMF2

bristolleedsfan

setmefree2 wrote: »

Hi

We currently have a Cash ISA with Yorkshire Building Society - interest rate 5.35%...thinking about moving it in next tax year any suggestions? Is it worth moving to the Alliance & Leicester say for an extra 6.25%

Thx

SMF2

If i was u id either move it to Abbey ISA New Direct Issue 2 ( available from 3rd March) 6.25% or Nationwide 6.15% fixed rate because in both cases u wont lose any interest during the transfer process.

Why wait until the next tax year.

setmefree2

Thx for your help- just been over to Nationwide site,,, not very easy to use? Couldn't find out the interest rates...

bristolleedsfan

setmefree2 wrote: »

Thx for your help- just been over to Nationwide site,,, not very easy to use? Couldn't find out the interest rates...

http://www.nationwide.co.uk/savings/rates.htm

bow1508

Can anyone recommend a mini isa from a high street provider? My husband needs one but as he's registered blind he needs to be able to go into a branch somewhere to do his banking. We have all the usual suspects near us, barclays, britanna, nat west, hsbc, lloyds tsb, abbey. As i have no idea what i'm going and reading the article didn't make it much clearer for me (yes i'm a bit dim) i'm asking for help. Thanks all

10_66

Do you want a variable rate or fixed rate? Fixed rate ones usually have penalties for early withdrawal/closure. Variable are usually more flexible, ie allow you to make withdrawals etc.

bristolleedsfan

bow1508 wrote: »

Can anyone recommend a mini isa from a high street provider? My husband needs one but as he's registered blind he needs to be able to go into a branch somewhere to do his banking. We have all the usual suspects near us, barclays, britanna, nat west, hsbc, lloyds tsb, abbey. As i have no idea what i'm going and reading the article didn't make it much clearer for me (yes i'm a bit dim) i'm asking for help. Thanks all

Many Savings Rates will be getting reduced around 1 March

Atm Best Branch Rates are :

Nationwide BS 1 Year Fix 6.15%
Chorley BS 1 Year Fix 6.10%

Loughborough BS 90 day notice 6.10%

Leek BS 5.75% Variable Instant Access
Skipton BS 5.70% Variable Instant Access

After that would depend which Building Societies u have local to u

Avoid Brittannia BS. http://www.britannia.co.uk/c_savings/product/tax_free/mcisa/prod.html :eek:

roddydogs

Where is this Abbey new direct isa paying 6.25% not on website, do you know something we dont(BrLdFan)?