Frequently Asked Questions

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.

What does ISA stand for?

An individual savings account.

What is an ISA?

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.

Why should I get an ISA?

Easy! An ISA allows you to save your hard earned cash without paying the taxman on the interest.

What types of ISAs are there?

There are many types of ISAs on the market. We bring you the best selection of Cash, Innovative Finance, and Stocks and Shares ISAs.

What are easy access and fixed term?

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.

When is the tax year?

6 April to 5 April.

How much can I save tax-free?

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.

Does my allowance roll over?

No. Unfortunately, if you don’t use it, you lose it. It’s best to make the most of your savings while you can.

Can I withdraw money from my ISA?

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.

How many ISAs am I allowed?

You can’t open more than one Cash, one Stock and Shares, and one Innovative Finance ISA per tax year.

What is peer to peer lending?

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.

Why should I use Apples for Oranges?

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.

Why are there only a select number of ISAs on your website?

Unfortunately, not all ISAs are created fairly. We have a strict vetting process for ISA products to ensure that our customers can invest safely.

What do you do with my data?

We take the mishandling of data very seriously. For more information on how we handle your data, please have a read of our privacy policy.

Why an apple and an orange?

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.

So am I an apple or an orange?

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.

How do you know if an ISA is a good deal?

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.

Are you planning on featuring more financial products?

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.

Why isn’t the comparison table working for me?

It looks like you may have come across a bug. Please feel free to send the error to our tech geeks

I’m an ISA provider, and I would like my product included on the website.

That’s great news! We would love for you to join the AFO team, please don’t hesitate to get in touch with us

I don’t believe one of the providers on your website is trustworthy, who should I get in contact with?

Please get in touch with us, and we will investigate any issues.

Who do you think would win in a fight between the apple and orange?

Hmm, that’s a tough question! We’ll leave that to your imagination...

I really like your blog! How often do you release articles?

That’s fantastic to hear - we appreciate your feedback. Every week we release a new blog jam-packed with top-tips and helpful insight. If you’d like to get them straight to your inbox, join our monthly newsletter.

I’m a blogger/editor, and I would love to collaborate! How do I get in touch with you?

Sounds exciting! We would love to work with you. Please head on over to our contact page and fill in our form.

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