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Multi Deposit ISA
caveman38
Posts: 1,314 Forumite
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.
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Comments
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Yes, all easy access ISAs will accommodate that.
There may be one or two fixed term/rate ones too....2 -
Yes of course. What you describe is a cash ISA.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.
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.1 -
Some even let you put money in, take money out and replenish it before the tax year. They're called Flexible ISAscaveman38 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.Remember the saying: if it looks too good to be true it almost certainly is.0 -
The OP may wish to read some of the threads on this forum about T212 before going ahead......Alderbank said:
Yes of course. What you describe is a cash ISA.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.
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.0
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