Investec Fixed Rate ISAS - unusual maturity condition

brewerdave

Another one here who has been caught out by this; only realised after reading this thread - after looking carefully through the website yesterday, it is in the ts & cs ,but not in any of the headlines.

I've been saving in TESSAs,PEPs, ISAs for ~ 30 years and can honestly say, I've never come across anything of this type before.

Barkin

It's on the ISA front page.

Summary box – everything you need to know.

(apologies for the formatting - stupid editor...)

friolento

I applied for an Investec 1 Year fixed rate ISA yesterday and on reading t and c's after applying noticed that on maturity the interest appeared to have to be paid away into your linked account. this seemed
really odd to me

@ashteadgirl thank you for highlighting this. I have held many cash ISAs over the years but this is the first time I have heard that interest gets automatically paid into the linked non-ISA account. It seems counterproductive and not in the spirit of ISAs to prevent people from growing their ISA balance but I suppose providers can have this weird rule. It's another example for why you have to read the T&Cs, at least in summary, quite thoroughly.