NISA - does interest payment count in £15k deposit limit?
NISA - does interest payment count in £15k deposit limit?
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Discussion

FreeLitres

Original Poster:

6,128 posts

207 months

Monday 3rd November 2014
quotequote all
I opened a NISA this summer and deposited £10k. I'm planning on topping this up by £1000 a month until I meet the max £15k before the end of this ISA year.

The interest is paid annually and I am expecting about £300 interest in this ISA year.

Will this interest payment count as a deposit and take me over my £15k allowance, or is the interest payment added without issue?

Thanks

ninja-lewis

5,463 posts

220 months

Monday 3rd November 2014
quotequote all
No, the limit is just for the money you place in the NISA.

FreeLitres

Original Poster:

6,128 posts

207 months

Tuesday 4th November 2014
quotequote all
Great, thanks.

I thought this might be the case but I have never had an annual interest account and they were asking which account I wanted to "deposit" the interest into, which threw me a bit.

Cheers