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CAN I OPEN ANOTHER CASH ISA

dec9

dec9 Posts: 34 Forumite

Sixth Anniversary

10 Posts

Combo Breaker

29 March at 12:30PM edited 31 March at 11:50AM in ISAs & tax-free savings

Hi, I've got a cash ISA maxed out for this year 2024/25 and I plan on opening another on 5th April this year (or just after thereabouts)
Can I open one now instead but not put any money in it until after 5th April to get todays interest rates or do I have to wait until after 5th April to open it?

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Comments

TadleyBaggie Posts: 6,545 Forumite

29 March at 12:36PM edited 29 March at 12:37PM

You can open as many ISAs in a year as you like, as long as the total new funding doesn’t exceed £20k.

Whether you would get current interest rate after 5th April is down to the T&C’s.

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grumpy_codger Posts: 702 Forumite

29 March at 12:38PM

Yes, you can open, but whether you get "today's" rate or not depends on the T&C of this particular ISA.

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Albermarle Posts: 27,208 Forumite

29 March at 1:23PM

Are you looking at a fixed term ISA, as If it is an easy access ISA, then interest rate will be variable anyway .

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