ISA monthly interest payments exceed limit?
ISA monthly interest payments exceed limit?
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Ham_and_Jam

Original Poster:

3,423 posts

121 months

Tuesday 19th September 2023
quotequote all
Just a quick question.

I’ve opened a new ISA and popped in the max annual amount of £20k.

With regard to the interest payments, it’s defaulted to monthly payments paid in to ISA account. Is that OK?

Obviously I’ll be getting about £90 / month paid into the ISA that is max’d out. Are interest payments treated differently as they aren’t ‘paid in’.

Mr Pointy

12,921 posts

183 months

Tuesday 19th September 2023
quotequote all
If the interest is "internal" money within the ISA then yes, it's ok. You can't add any more external contributions of course.

Ham_and_Jam

Original Poster:

3,423 posts

121 months

Tuesday 19th September 2023
quotequote all
Mr Pointy said:
If the interest is "internal" money within the ISA then yes, it's ok. You can't add any more external contributions of course.
Cool, I guess this interest is also compounded so win win.