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Multi Deposit ISA

Does an ISA exist, where you can open now with a deposit and top it up monthly. Then put a final amount in March 25. 

Comments

  • eskbanker
    eskbanker Posts: 37,635 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes, all easy access ISAs will accommodate that.

    There may be one or two fixed term/rate ones too....
  • Alderbank
    Alderbank Posts: 4,005 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    caveman38 said:
    Does an ISA exist, where you can open now with a deposit and top it up monthly. Then put a final amount in March 25. 
    Yes of course. What you describe is a cash ISA.

    Lots of financial institutions offer them, including all high street banks. Some have limitations such as only allowing a single lump sum payment so would not be suitable for you. But many allow you to open a cash ISA now with a deposit and top it up weekly, monthly or whenever you please. Your final payment can be March 24, 25, 26 or whenever you wish.
    Just one example is MSE's top pick of Trading 212 https://www.trading212.com/isa?cash-isa=&promo-code=MSE

    The only limitation is that your total payment of new money into ISAs (all ISAs you have, including lifetime ISA, stocks & shares ISA as well as cash ISAs) can't be more than £20,000 in any tax year.
  • jimjames
    jimjames Posts: 18,755 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    caveman38 said:
    Does an ISA exist, where you can open now with a deposit and top it up monthly. Then put a final amount in March 25. 
    Some even let you put money in, take money out and replenish it before the tax year. They're called Flexible ISAs
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Albermarle
    Albermarle Posts: 28,336 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Alderbank said:
    caveman38 said:
    Does an ISA exist, where you can open now with a deposit and top it up monthly. Then put a final amount in March 25. 
    Yes of course. What you describe is a cash ISA.

    Lots of financial institutions offer them, including all high street banks. Some have limitations such as only allowing a single lump sum payment so would not be suitable for you. But many allow you to open a cash ISA now with a deposit and top it up weekly, monthly or whenever you please. Your final payment can be March 24, 25, 26 or whenever you wish.
    Just one example is MSE's top pick of Trading 212 https://www.trading212.com/isa?cash-isa=&promo-code=MSE

    The only limitation is that your total payment of new money into ISAs (all ISAs you have, including lifetime ISA, stocks & shares ISA as well as cash ISAs) can't be more than £20,000 in any tax year.
    The OP may wish to read some of the threads on this forum about T212 before going ahead......
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