ISA options for 24/25 (paying in throughout year).

Bazzalona13295

I currently have a Shawbrook ISA, locked at 5.83% till Sept this year, which I can continue to contribute to till then. 

When it comes to 24/25 are there any similar ISAs out there in terms of being able to pay in throughout the year? I appreciate they won't be anything like 5.83%, but there is no point looking at the ISAs that require immediate funding as for the next 6 months I have a good rate.

eskbanker

It's not a market stuffed with plenty of options to choose from, but if your intention is to secure a rate asap, without intending to fund the account significantly until September, you could perhaps do worse than opening another one with Shawbrook?

refluxer

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Bazzalona13295

Thanks both for your replies, yes Shawbrook was my first port of call. Wasn't sure if a new batch was due early April for the new tax year.

soulsaver

refluxer said:

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Note that the Kent ISA, whilst it does allow additional deposits (up to hmrc limit) throughout, it says in the terms that it only allows transfers-in within 30 days of opening. 

soulsaver

soulsaver said:

refluxer said:

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Note that the Kent ISA, whilst it does allow additional deposits (up to hmrc limit) throughout, it says in the terms that it only allows transfers-in within 30 days of opening. 

PS
DYO Research:
Kent 5.04% fixed, needs £1k min within 7 days to open; possibly unless transferring in?.
Shawbrook's terms seems to imply you can only hold 1 ISA product with them at a time.

Bazzalona13295

soulsaver said:

soulsaver said:

refluxer said:

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Note that the Kent ISA, whilst it does allow additional deposits (up to hmrc limit) throughout, it says in the terms that it only allows transfers-in within 30 days of opening. 

PS
DYO Research:
Kent 5.04% fixed, needs £1k min within 7 days to open; possibly unless transferring in?.
Shawbrook's terms seems to imply you can only hold 1 ISA product with them at a time.

Thanks, I have looked at that option (Kent).

I haven't seen anything that mentions a time limit on deposits (transfers yes) so I'll see. If there is indeed a deadline and I can't add funds throughout the year there is no real point in me opening an ISA yet as I'm not in the position to add too much immediately, however the 1k isn't an issue so if I can add sporadically thats ideal.

I accept that say in 6 months time the rates will be lower so I'd prefer to open one as soon as I can.

Thanks for the info.

refluxer

soulsaver said:
Shawbrook's terms seems to imply you can only hold 1 ISA product with them at a time.

"You can only open and operate one Cash ISA account with Shawbrook Bank in any single tax year."

I'm fairly sure I've held both fixed rate and easy access cash ISAs at once with Shawbrook in the past - I just presumed that was clumsy wording and was referring to only being able to pay into one cash ISA at any one time ('operate' meaning 'pay new subscriptions into' rather than transferring-in).

Albermarle

soulsaver said:

refluxer said:

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Note that the Kent ISA, whilst it does allow additional deposits (up to hmrc limit) throughout, it says in the terms that it only allows transfers-in within 30 days of opening. 

I think they all have a limited window for transfers, even if they allow you to keep adding money during the year.

Otherwise if rates drop and the fixed rate looked attractive, people might start transferring in large ISA's, whereas if it is only new money it limits their exposure to max £20K per account.

soulsaver

Albermarle said:

soulsaver said:

refluxer said:

The banks I'm aware of that currently allow continued contributions through-out the duration of their fixed rate ISAs are Shawbrook, Barclays and Kent Reliance. 

Note that the Kent ISA, whilst it does allow additional deposits (up to hmrc limit) throughout, it says in the terms that it only allows transfers-in within 30 days of opening. 

I think they all have a limited window for transfers, even if they allow you to keep adding money during the year.

Otherwise if rates drop and the fixed rate looked attractive, people might start transferring in large ISA's, whereas if it is only new money it limits their exposure to max £20K per account.

I added the comment because it wasn't included in the comment about Kent that I quoted.

And it depends what you mean by 'all'.

drphila

refluxer said:

soulsaver said:
Shawbrook's terms seems to imply you can only hold 1 ISA product with them at a time.

"You can only open and operate one Cash ISA account with Shawbrook Bank in any single tax year."

I'm fairly sure I've held both fixed rate and easy access cash ISAs at once with Shawbrook in the past - I just presumed that was clumsy wording and was referring to only being able to pay into one cash ISA at any one time ('operate' meaning 'pay new subscriptions into' rather than transferring-in).

refluxer said:

soulsaver said:
Shawbrook's terms seems to imply you can only hold 1 ISA product with them at a time.

"You can only open and operate one Cash ISA account with Shawbrook Bank in any single tax year."

I'm fairly sure I've held both fixed rate and easy access cash ISAs at once with Shawbrook in the past - I just presumed that was clumsy wording and was referring to only being able to pay into one cash ISA at any one time ('operate' meaning 'pay new subscriptions into' rather than transferring-in).

I've opened to cash isas this (tax) year