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Fixed rate isa
andy307
Posts: 2 Newbie
I have a 5yr fr isa due to mature November 2023 and has a rate of 2.3%. The penalty is 180 days interest. Am I better to take the hit (approx £400)and switch to a better fixed rate isa.
0
Comments
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Yes and it's worth looking at the post below. At least it's just 180 days, some have 365 for 5 years so that's a plus.
With about a year left, you should be able to find something that earns you more for the year ahead, however, it might require a fix beyond a year with a higher rate to be anything meaningful.
https://forums.moneysavingexpert.com/discussion/6401118/what-is-the-maths-for-ditching-fixed-and-paying-penalty#latest
Yeah, cheers but nah, I will stick with yes, thank you and no.
Thank you.0
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