Which ISA should you choose?
Choosing an Individual Savings Account (ISA) used to be simple. There was either a cash...Read more
Money you receive through wages or capital gains
This is the tax you pay on your income.
An account in which a singular person can save money.
The increase in prices over time.
An individual savings account that allows you to invest in peer-to-peer lending and receive tax-free interest.
Money regularly paid at a particular rate.
Interest is the income you receive based on the value of the amount you invest. For example, a £1000 investment into a Stocks and Shares ISA with a 4.7% yearly interest will give roughly a £47 return in the first year.
A fee charged to the lender when taking out a loan.
The percentage of interest you will receive on top of your investment.
What the interest terms are. For example fixed term gives a precise timescale for the length of the ISA. A projected return only provides a guideline interest rate.
Relevant to Innovative Finance ISAs or a financial product that uses your capital towards an investment. You can gauge a level of understanding as to where your money will be going.
Putting money into something with the goal of generating money.
An individual or company that supplies or distributes something.
Money borrowed to be paid back with interest.