# Fixed ISA



## vickky453 (Feb 27, 2009)

Hey

I put money in a Fixed ISA in 2008, I checked the balance on it today an its still the same as when i put it in? can anyone explain to me how they work please!

Also, it says they charge 180 days interest to remove the money, how does that work? say on £1000, how much would you loose 2 years into the agreement?

Bank is halifax


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## -tom- (Jan 27, 2009)

With the bank i work with not halifax, interest is calculated daily and applied yearly usually end off the tax year begin off the new tax year. the 180 days is basically a penalty to come out off the agreement early as intrest is calculated daily and applied yearly best people to speak with are halifax and they can give u a very close idea off what the penalty would be. hope that helps i hate to say it but the best isa at the moment is abbey not the bank i work with


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## snapsnap (Jul 18, 2008)

I would have thought that the money has to be in there for x years, then the interest shows. Typically, if you withdraw early, you forefit some of the interest (looks like 180 days in your case). Speak to Halifax really to confirm


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## johnnyc (Nov 18, 2008)

i thought with isa bank you get your interest at the end of the month or end of year depending on which you picked. also you might have selected your interest to go into your currrent account. so you might not realised you got your interest. 

kinda off topic but this year we can now put in £5100 but with the poo interest rate (i'm with hsbc) its lost all its incentive


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## gherkin (Jul 6, 2008)

currently the best non fixed is Alliance and leicester/santader at 3.2% and i think the coventry building society for 1 year fixed at 3.25%

moneysavingexpert.com will give you the low down.

On Halfax's current 4 year fixed ISA the interest is paid on maturity so i imagine it could well be the same for the 2 year one.


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## vickky453 (Feb 27, 2009)

little update on this, got a letter through this morning telling me about the account. Please tbh as I have earned £90 interest on a small sum of money :lol:


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