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  • FIRST POST
    • tor green
    • By tor green 9th Feb 18, 3:31 PM
    • 1Posts
    • 0Thanks
    tor green
    Transfer funds mid year to a 1yr ISA
    • #1
    • 9th Feb 18, 3:31 PM
    Transfer funds mid year to a 1yr ISA 9th Feb 18 at 3:31 PM
    Hello all.

    Have ISA funds that are languishing in an account with poor interest! Have struggled to complete transfer for one technical reason or other and lack of time.. and want to by end of weekend!

    If I am to transfer my ISA savings to eg. Leeds BS with a current 1 yr fixed date ISA paying 1.45 % will my transfer date eg. 12th Feb = result in the account & interest rate being calculated and applied at end of this tax year eg 5th April 2018, or does the fix for a year = the account is inaccessible ( without loss of interest etc) till the subsequent year of eg. 11th Feb 2019.
    Would this also apply to eg Virgin offering 1.2 % easy access?

    Transferring ISA savings near end of tax year.. how will interest rates apply with a new ISA set up and fixed date ISA's re transfer date and longevity of account ?

    Thank you for any support
Page 1
    • badger09
    • By badger09 9th Feb 18, 5:52 PM
    • 5,941 Posts
    • 5,281 Thanks
    badger09
    • #2
    • 9th Feb 18, 5:52 PM
    • #2
    • 9th Feb 18, 5:52 PM
    Hello all.

    Have ISA funds that are languishing in an account with poor interest! Have struggled to complete transfer for one technical reason or other and lack of time.. and want to by end of weekend!

    If I am to transfer my ISA savings to eg. Leeds BS with a current 1 yr fixed date ISA paying 1.45 % will my transfer date eg. 12th Feb = result in the account & interest rate being calculated and applied at end of this tax year eg 5th April 2018, or does the fix for a year = the account is inaccessible ( without loss of interest etc) till the subsequent year of eg. 11th Feb 2019.
    Would this also apply to eg Virgin offering 1.2 % easy access?

    Transferring ISA savings near end of tax year.. how will interest rates apply with a new ISA set up and fixed date ISA's re transfer date and longevity of account ?

    Thank you for any support
    Originally posted by tor green
    You really need to look at the T&Cs for the specific ISA you're looking to transfer into.

    For example, although the Leeds ISA you mention is called a 1 year Fixed Rate ISA, it isn't actually because the rate is fixed until maturity on 31 March 2019 and that is when interest is paid.

    The Virgin Easy Access ISA is not even a fixed rate - its variable

    Does that answer your question?
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