Santander Flexible ISA question

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
5 replies 714 views
kylllekyllle Forumite
93 Posts
Part of the Furniture Combo Breaker
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi all,

I opened a Flexible (3.3%) ISA with Santander this week and deposited £50 just to get the account started, when I deposited this my online balance indicated that I have £5050 available to save.

My question is:

Can I deposit up to £5050 into my ISA today and get it at the 3.3% and then save another £5100 from tomorrow - 31st march 2012?

Kyle
#21 Debt Free in 2009 - Mission Complete :)
#353 Sealed Pot Challenge '09 - £2445
#363 Sealed POt Challenge '10

Replies

  • blueberrypieblueberrypie Forumite
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    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
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    kyllle wrote: »
    Hi all,

    I opened a Flexible (3.3%) ISA with Santander this week and deposited £50 just to get the account started, when I deposited this my online balance indicated that I have £5050 available to save.

    My question is:

    Can I deposit up to £5050 into my ISA today and get it at the 3.3% and then save another £5100 from tomorrow - 31st march 2012?

    Kyle

    Assuming you haven't used anything of your 2010/11 ISA allowance other than that £50 you deposited...

    You can deposit up to £5050 today, but you will have to wait until April 6th to deposit anything further, as the tax year runs from April 6th to April 5th.
  • kylllekyllle Forumite
    93 Posts
    Part of the Furniture Combo Breaker
    Hi blueberry,

    But will I my interest rate still be 3.3% in april?

    Kyle
    #21 Debt Free in 2009 - Mission Complete :)
    #353 Sealed Pot Challenge '09 - £2445
    #363 Sealed POt Challenge '10
  • SanzaiSanzai Forumite
    61 Posts
    Yes, you would still get that interest rate for 12 months from opening the account. Unless of course the Bank of England base rate were to drop, as the 3.3% is based on the base rate plus 2.8%.

    Oh, and from 6th April 2011 you can put in another £5340.
  • psychic_teabagpsychic_teabag Forumite
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    IIRC the 3.3 rate is a minimum - if base rates rise, the ISA rate will follow, but it won't go below 3.3
  • SanzaiSanzai Forumite
    61 Posts
    Ah yes, a look on their site shows you are correct psychic teabag.
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