- Protection Scheme: FSCS
- Fund Choice: Fully Managed Portfolio
- Invest From: Min. £500 single (+ £100 pm for ISAs below £5,000)
Halifax is a British bank operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. It is the UK's largest provider of residential mortgages and savings accounts and came 5th overall in the British Bank Awards 2016.
If you’d like to put some money away each month or invest some spare cash then an Investment ISA could be a tax-efficient way for you to do so. You can invest anything up to the tax threshold for that year either spread across a Cash, Stocks and Shares and Innovative Finance ISA or consolidated within one account.
You can only fund one of each type of ISA per year but as all providers must allow you to move your money you will be able to transfer. However, it’s worth checking if your current provider charges penalties. Otherwise you could receive back less than you originally invested.
Generally, Investment ISAs have the potential to provide better returns than a savings account but customers must be prepared for the risk element that is involved as your money could lose value depending on how the market performs.
There are two charges associated with the management of this ISA:
If you don’t already have a Halifax account with online banking facilities, you’ll need to open an account first. However, some of their savings accounts can be opened online with a minimum deposit of as little as £1.
Once you have a Halifax account open then you will be able to apply online for an investment ISA or request a transfer form, if you are looking to switch.
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.
ISAs are a tax-advantageous way to save or invest, check out some of the ISA options below
There are a range of types of fund ISA
23rd May 2017
The New ISA Allowance Is £20,000 Per Person.
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