Can you add money to an ISA

StevenJB

Hi,

   I am looking for an ISA Not to take money out but to add into when I can, I need this over a three year period.

What do you suggest please

Albermarle

WHUFC123 said:

Santander 2 year allows upto 20k now and another next april

Not sure where you got that info from .

In the terms and conditions for the current Santander 2 year fixed term ISA, it clearly says this .

The ISA allowance for the 2023/24 tax year is £20,000 and deposits can be made from 6 April 2023 up to and including 31 May 2023. No further deposits will be allowed.

Albermarle

StevenJB said:

Hi,

   I am looking for an ISA Not to take money out but to add into when I can, I need this over a three year period.

What do you suggest please

If you have an easy access cash ISA, you can add and withdraw from it as many times as you like, as long as you stick to the ISA limits.

StevenJB

Ok Thats not quite what I am looking for, I know Ican deposit if I have it nthe Full allowance for an ISA, I want to know if ther is an ISA where i put say £3000 in and then say 200 amonth every month for 3 years.

Is it possible in an ISA?

Albermarle

StevenJB said:

Ok Thats not quite what I am looking for, I know Ican deposit if I have it nthe Full allowance for an ISA, I want to know if ther is an ISA where i put say £3000 in and then say 200 amonth every month for 3 years.

Is it possible in an ISA?

Yes in an easy access cash ISA. The only thing to be aware of is that the interest rate may change at regular intervals.

Saver73

I opened a Ford money ISA at 3% and I've put two deposits in so far with the intention of adding further deposits later in the year, keeping within the ISA limit of course.  I didn't come across an ISA for more regular savings when I searched recently.

Albermarle

Saver73 said:

I opened a Ford money ISA at 3% and I've put two deposits in so far with the intention of adding further deposits later in the year, keeping within the ISA limit of course.  I didn't come across an ISA for more regular savings when I searched recently.

I believe the Ford Money flexible saver/easy access is now paying 3.10%. It is not the very best rate, but they are a pretty efficient company to deal with.

Some of the ones with slightly better rates have some withdrawal limitations but that might be OK for the OP.

Easy Access Cash ISAs Up to 3% Variable (moneyfactscompare.co.uk)

Middle_of_the_Road

StevenJB said:

Hi,

   I am looking for an ISA Not to take money out but to add into when I can, I need this over a three year period.

What do you suggest please

Regular saver ISA. Open branch or post only, manage online.

Regular Saver ISA | Saffron Building Society (saffronbs.co.uk)

Another-

This is branch opening, then standing order.

Starter ISA Issue 11 | Nottingham Building Society (thenottingham.com)


Thanks t1redmonkey

jimjames

StevenJB said:

Ok Thats not quite what I am looking for, I know Ican deposit if I have it nthe Full allowance for an ISA, I want to know if ther is an ISA where i put say £3000 in and then say 200 amonth every month for 3 years.

Is it possible in an ISA?

As above this is possible in a cash or S&S ISA and in a savings account. You might find that a regular saver is a better option for the £200 than an ISA as you'll get more interest.

Saver73 said:

 I didn't come across an ISA for more regular savings when I searched recently.

Not sure why you couldn't find an ISA to pay in regularly, pretty much every ISA that's not fixed rate will allow you to do that

Saver73

@jimjames thank you. I understand that I can pay into a non-fixed ISA regularly within the limits but I hadn't considered paying into in the same way as my Halifax regular saver for example.

eskbanker

Albermarle said:

WHUFC123 said:

Santander 2 year allows upto 20k now and another next april

Not sure where you got that info from .

In the terms and conditions for the current Santander 2 year fixed term ISA, it clearly says this .

The ISA allowance for the 2023/24 tax year is £20,000 and deposits can be made from 6 April 2023 up to and including 31 May 2023. No further deposits will be allowed.

Indeed - I'd already corrected that poster on exactly that misconception yesterday:

https://forums.moneysavingexpert.com/discussion/comment/79971045/#Comment_79971045