MoneyBox ISA Rate - does it change once new financial year starts?

moneysavvy35

Hi

I have a money box account that I opened in jan 2024. it was opened with the interest set at 5.1. now that the new financial year has started. The  £20k i have in there will this be at the same rate or does it drop to a different rate, I am trying to navigate the money box app, but cannot seem to find this information. another question is if I put another 20k in there will this start a brand new isa for 2024/2025?  thanks in advance

littlegreen

Is it a rate of 4.65% plus an introductory bonus rate bringing it up to 5.1%? If so that higher rate lasts for 12 months from you first opening an isa and can straddle the tax years. After 12 months or 4 withdrawals it drops to the 4.% rate 

Wheres_My_Cashback

Your current rate is shown when clicking on your balance and if you click on that rate it will give you a breakdown of interest.
It will only start a new ISA if you open a new ISA.