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  • FIRST POST
    • Photoframe55
    • By Photoframe55 8th Sep 19, 1:47 PM
    • 18Posts
    • 1Thanks
    Photoframe55
    Stupid isa question
    • #1
    • 8th Sep 19, 1:47 PM
    Stupid isa question 8th Sep 19 at 1:47 PM
    If you get a fixed rate isa for say 5 years, quite a lot of the info on various providers say that you can't add any money after the initial deposit. This is probably a stupid question but if it's a five year fixed rate ISA can you deposit 20,000 each year or can you not make any more deposits like it says?
Page 1
    • JGB1955
    • By JGB1955 8th Sep 19, 1:49 PM
    • 351 Posts
    • 391 Thanks
    JGB1955
    • #2
    • 8th Sep 19, 1:49 PM
    • #2
    • 8th Sep 19, 1:49 PM
    You won't be able to top it up after the initial deposit.
    • danm
    • By danm 8th Sep 19, 3:55 PM
    • 479 Posts
    • 191 Thanks
    danm
    • #3
    • 8th Sep 19, 3:55 PM
    • #3
    • 8th Sep 19, 3:55 PM
    You won't be able to top it up after the initial deposit.
    Originally posted by JGB1955
    To the OP.... the above is absolutely correct, but you can open another 5yr fixed ISA with the next years annual allowance.
    • Photoframe55
    • By Photoframe55 8th Sep 19, 5:02 PM
    • 18 Posts
    • 1 Thanks
    Photoframe55
    • #4
    • 8th Sep 19, 5:02 PM
    • #4
    • 8th Sep 19, 5:02 PM
    Im lost with this for some reason. I want to put 20,000 in to an isa of some sort each year but it says you can only have one running at the same time?? So, i pick an isa fixed for a better rate, put the money in, and leave it for 5 years? Then next year, how can i open another one if you can only have one running? For some reason this is just not registering with me.
    • masonic
    • By masonic 8th Sep 19, 6:59 PM
    • 12,337 Posts
    • 9,941 Thanks
    masonic
    • #5
    • 8th Sep 19, 6:59 PM
    • #5
    • 8th Sep 19, 6:59 PM
    Where does it say "you can only have one running at the same time"?

    You are allowed to pay into one cash ISA per tax year. There is no limit to the number you can have "running at the same time".
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