End of term for cash isa

Lightbulb21

I have come to the end of term of my cash Isa. Never had one before . Will it just restart in April 2025 or do I need to move it to a different cash isa?

eskbanker

You should have received a maturity letter from the provider, explaining your options.

Next month you receive a new £20K annual contribution allowance, but that doesn't affect ISAs opened in previous tax years.

Albermarle

Lightbulb21 said:

I have come to the end of term of my cash Isa. Never had one before . Will it just restart in April 2025 or do I need to move it to a different cash isa?

If you read through the forum, you will see threads discussing what to when a fixed term ISA ends.

Lightbulb21

Thank you
It was a fixed rateI for a year. I’ve seen details informing me it will change to a variable rate when the term ends. I guess I only need to move it if I want another fixed rate Isa? 

Dazed_and_C0nfused

Lightbulb21 said:

Thank you
It was a fixed rateI for a year. I’ve seen details informing me it will change to a variable rate when the term ends. I guess I only need to move it if I want another fixed rate Isa? 

Or if you want a variable rate ISA with a better interest rate than the one you are being moved onto 😉

sparkiemalarkie

Lightbulb21 said:

Thank you
It was a fixed rateI for a year. I’ve seen details informing me it will change to a variable rate when the term ends. I guess I only need to move it if I want another fixed rate Isa? 

Make sure that you apply to have it transferred- DO NOT move it yourself otherwise it will lose the ISA wrapper.