ISAs

[Nemo]

Hmm, a slight reading up shows it to be more complex than first thought. You need to already have your current account with them (Which I do, and their giving me 10% interest on the first 1000 which is nice, as it'll never get past that).

You also need to open up a Legal and General or Credit Suisse stocks and shares investment thingy at the same time with £5000, and then you can put money into the 10% A+L one. Bit too complex for me, but might still be a good deal if you're willing to risk it.

[janaage]

I thought there'd be conditions, 10% interest rate, with the state of the economy people would go for that like flies round poop.

[Power to people]

If I put money into the Barclays one and didn't manage to invest the 3,600 by April do I still get 6.25% or does that only apply when you put in the maximum...anyone know ?

[McLovin]

with a Cash ISA you'd get that rate of interest on anything you invest. Unless there is small print.

[janaage]

Cash ISA's are interest earning accounts (some fixed some variable), so whatever the level of interest is stated you should receive, subject to terms and conditions, i.e. minimum investment amounts.

[oxford_fan]

i've a whopping £35 in my ISA. i think i'm going to put £200 in and forget about it for a while, hopefully to return to a nice, interest-boosted surprise.

[Power to people]

I've already got one Cash ISA and want to open another, so will have to put it in the Mrs name as that will be one that I want to put money away for when we move (towards solicitor fee's etc) so a good place to gain a bit of interest

[Samdy Gray]

You can have more than one cash ISA, you just can't invest more than £3,600 in a year. So if you've already got the full allowance in one which accrued before 5 April 2008 then you can invest another £3,600 into the same ISA or you can open another one and put up to £3,600 in that.

[janaage]

Not one of the clearer posts you've ever written Sam!!

[Simon Pieman]

You can have more than one ISA (with different providers) but can only invest with one provider during a tax year, unless you're investing into two different types of ISA i.e one of the a cash ISA and one of them a stocks and shares ISA, then it doesn't matter if they are with different providers.

If you haven't paid into an ISA after 5 April 2008 you can open a new one.

[janaage]

You can have a cash ISA with one provider and a stocks and shares with another provider in the same tax year!

Si Pie did you edit that or am I going mad?

[Simon Pieman]

I think you're going mad  :shock:

[janaage]

You didn't add

"unless you're investing into two different types of ISA i.e one of the a cash ISA and one of them a stocks and shares ISA, then it doesn't matter if they are with different providers."

 :shock:  

I must be.