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  • Dumb question about ISA interest payment…
  • poppa
    Free Member

    My ISA provider pays interest at the end of the tax year. If I withdraw my money as cash before the end of the tax year (e.g. to use as a deposit), will I lose the interest accrued up until that point?

    bristolbiker
    Free Member

    It depends on the T+C’s of your product – could be either depending on what you signed up to.

    BigJohn
    Full Member

    There’s a difference between accrual dates and payment dates. Your initial paperwork should tell you (probably says interest is calculated on a daily basis but is compounded annually).

    Phone them up and ask.

    poppa
    Free Member

    Okey doke, will check it out. Thanks.

Viewing 4 posts - 1 through 4 (of 4 total)

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