HBOS ISA Question

lofty_2

I recently Took out an HBOS ISA fixed rate for a year. I have hit a bit of a financial issue. Can I Cancel this ISA and get my hands on the money?

Baldur

lofty wrote: »

Can I Cancel this ISA and get my hands on the money?

See HERE:

"Although it's best to leave a fixed rate Halifax ISA Saver open until the end of the fixed term, you can close your account or transfer out to another ISA Manager. However, you will lose an amount equal to 180 days' interest, calculated on the rate at which interest is paid on your account."

lofty_2

If the account is under 180 days old will this eat into the amount I initially put in?

Mikeyorks

That's what it says ..... in "you will lose an amount equal to 180 days interest".

It makes it clear in the T&Cs that no withdrawals are permitted .... unless you are prepared to sacrifice the equivalent of approx 6 months interest. That's why, I'm afraid, it's unwise to tie up any funds in fixed rate that you might need as a contingency.