ISA - April 2025

MigsyBigsy

Hello all,

apologies in advance for what is probably quite a basic question.

I have invested in a few ISAs for both my parents and myself, but what happens post April 2025? Do I now need to change accounts cos the rate will cease in my current ones? or can i can continue? All accounts were opened around 2-3 months ago.

thank you
(Removed by Forum Team)

PRAISETHESUN

MigsyBigsy said:

Hello all,

apologies in advance for what is probably quite a basic question.

I have invested in a few ISAs for both my parents and myself, but what happens post April 2025? Do I now need to change accounts cos the rate will cease in my current ones? or can i can continue? All accounts were opened around 2-3 months ago.

thank you
(Removed by Forum Team)

Nothing will change about your existing accounts - they will keep ticking along under the same terms as when you opened them. If your accounts include terms to say that the interest rates will fall in April, then it might be worthwhile investigating alternatives and transferring to a new provider, but there's no need to wait until April to do this. You can transfer around existing money between providers as much as you like, it's only new money that needs to wait until April.

Bigwheels1111

So do you mean you had fixed rate isa's, And the rate end in April ?.

Most are fixed for 1 / 5 years, unless they are easy access.

I think you need to check first, rate and term.

If rate is ending and you are out of the fixed term find a new provider with the best rate and term that allows transfers in.

I'm not sure If you can set this up before April or not.

Plus you can open new isa's on the 6th of April as well.

The transfers are old isa's so do not count towards 2025.

Look here for best rates.

Select term, 1, 2, 3 years etc.

Then where you see SORT, select Rate order in drop down box.

https://moneyfactscompare.co.uk/isa/

maman

If you do decide to transfer to a new supplier don't take the money out of the existing one. You need to open the new one first and then the new provider will request a transfer on your behalf.