Monday, 6 April 2015

It's ISA top up day

Yes the new tax year is upon us and the 6th April is the first day that you can top up your cash and stocks ISA. Remember the allowance is £15240 this year. I need my cash this financial year so I am not so sure whether I should top up my ISA temporarily and then withdraw the funds at a later stage.

It is also a good time to go searching for a better rate ISA especially if like mine your one year deal has ended. I am now only getting 0.25% interest which is pitiful. I do not want to fix my money as I may need it for my new house so I need a direct access ISA where there is no loss in interest for withdrawing money. Currently I am with Halifax and the rate there is 1.05% which is not as good as the 1.5% offered by Santander. However this rate is only available to 123 current account holders which I happen to be. I will be visiting my local Santander branch tomorrow and putting on an appointment to transfer my cash ISA to them.

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