Which ISA should you choose?
Choosing an Individual Savings Account (ISA) used to be simple. There was either a cash...Read more
Throughout our site, you’ll find several knowledge hubs to help you along your financial journey. From useful tips on our blogs to in-depth guides to help you the right solution for you, if you have any questions, we’d love to answer them. The most frequently asked are here, but if you still can’t find what you’re looking for, please get in touch, and we’d be delighted to help you.
An individual savings account.
An ISA allows you to save money tax-free. You can earn interest on your savings up to £20,000 per financial year and pay zero income tax on your profits.
Easy! An ISA allows you to save your hard earned cash without paying the taxman on the interest.
There are many types of ISAs on the market. We bring you the best selection of Cash, Innovative Finance, and Stocks and Shares ISAs.
An easy access ISA means that you can withdraw funds without a penalty; however, withdrawing funds before the end of your fixed term ISA can result in fees.
6 April to 5 April.
Every year, there is an annual ISA allowance limit. You can still save above and beyond this, but only the initial allowance will be tax-free. The 2018/2019 limit is £20,000.
No. Unfortunately, if you don’t use it, you lose it. It’s best to make the most of your savings while you can.
It really depends on the type of ISA. Some allow you to withdraw money freely, but others will have a fixed term of investment. Those with fixed terms of investment usually have fees tied into early withdrawals. Our best advice is to choose an ISA which fits in with your own financial situation.
You can’t open more than one Cash, one Stock and Shares, and one Innovative Finance ISA per tax year.
Peer-to-peer lending or P2P is a way for individuals to loan funds to individuals and businesses without needing the middleman (banks) to be involved. P2P lending is often associated with the Innovative Finance ISA.
The financial market is a minefield. We take the hard work out of investing by vetting each product individually and giving you a clear breakdown of terms so that you can see all your options at a glance via our comparison table. We even highlight the beneficial features so that you can tailor your decisions around your personal circumstances.
Unfortunately, not all ISAs are created fairly. We have a strict vetting process for ISA products to ensure that our customers can invest safely.
The adage apples and oranges describe the impossibility of trying to compare something incomparable. Quite like financial products (and especially ISAs), there is no one size fits all solution. Sometimes apples are for apples, but there’s nothing to say you can’t trade apples for oranges too.
Throughout our site, you’ll find various anecdotes and point of views. If you’ve historically found yourself to be less risk averse and relatively frivolous with money, but you have big goals and an open mind, you might find yourself to be relatable to the apple. If however, you’re financially savvy and quite conservative when it comes to taking risks then you’re similar to our orange, and you might find some thought-provoking facts to help broaden your opinion.
Everyone is different, and it is your own financial situation which will determine whether a particular ISA product is the right option for you. If you’re stuck with which to choose, we recommend seeking independent advice from a financial advisor.
We can’t wait to include even more financial products in the future; we are always working to ensure that we can offer our customers a variety of products to fulfil their financial goals. Our mission is cut through the mystery and make financial products easily understandable for everyone.
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