Isa Query?

[piggynose]

I have a few isa´s, and would like to know how much of a penalty i have to pay if i take money out of one before it matures? they are halifax isa´s
thanx in advance

[chrissa1]

What do you mean by, maturing?

[black_cat51]

ISAs dont mature as such. You are thinking of endowments, surely?
With ISAs i think you just don't get interest on the bit you took out, but perhaps it would be better to ask halifax?

[Fibonacci]

Look in the terms and conditions for the ISA product you have.

[chrissa1]

Yes. If you take money out, you cannot put the money back in to "top it back up."

[dzug2]

If they are fixed term ISAs (which it sounds like they may be) there is a penalty of so many days interest if you take money out early

If they are instant access ones then there is no penalty

Halifax do both types - you will need to check the T&C of your own particular one as to which it is and how many days penalty.

[piggynose]

ok i made a mistake, didnt mean to say matures. I believe some are 1 year isa´s, and other are 5 year isa´s. You´re right, i should have a document somewhere with all the conditions.

[dancecaller]

If you can't find your paperwork try http://www.halifax.co.uk/ click on ISA the 'find out more', that gives the terms of present isas. I'm sure you could find the older ones somewhere on the site too. This is what it says
Closing your account early will result in the loss of an amount equivalent to:
1 year term – 90 days’ tax free interest
18 month term - 135 days' tax free interest
2 year term – 180 days’ tax free interest
3 year term – 270 days’ tax free interest
4 year term – 320 days’ tax free interest
5 year term – 365 days’ tax free interest
So you have to know your interest rates to work it out and it may depend when you opened it.

[piggynose]

thanx dancecaller