There are a great many ISAs to choose from and choosing between them can be daunting. How do you know what’s right for you?
To make it simpler, check our comparison tables. They offer a way for you to compare leading products from ISA lenders quickly and efficiently. We compare a range of income and growth investment options.
Compare Cash ISAs
Cash ISAs are an attractive option for those needing a simple savings account with the added benefit of a tax-free wrapper. There are two types of cash ISA: fixed and variable rate.
Cash ISA rules :
- You must be at least 16 and a UK resident or Crown employee
- Transfers in, whether from existing cash ISAs and/or cash ISAs from previous years, are permitted
- You cannot open more than one cash ISA per year
Fixed ISAs are less flexible when it comes to withdrawals and often require you to tie your money up in exchange for higher interest rates. Variable ISAs are often more flexible and offer you the freedom to withdraw and save in a way that’s convenient for you.
Our cash ISA tables allow you to compare leading fixed rate and instant access cash ISA deals. We also provide alternative cash ISA options for people looking for better returns than those currently offered by traditional fixed rate products.
Compare Stocks and Shares ISAs
A stocks and shares ISA can offer much higher returns than a cash ISA but do come with an element of risk as performance is based on the current market. There are many providers who will now invest on your behalf, using a risk level that you’re comfortable with, or providers that give you the freedom to build your own portfolio.
Stocks and Shares ISA rules:
- You must be over 18 and a UK resident or Crown employee
- Transfers in from both investment and cash ISAs, from both current and previous years, are permitted
- You cannot open more than one of each type of ISA per year
A stocks and shares ISA is a great way of saving for people who are looking to make their savings work harder than in a cash ISA.
If you're happy to accept a level of risk and are aware that the value of your investments may go down as well as up over the longer term then an investment ISA has the potential to provide greater returns. Whether you're looking to lay aside a regular amount or a lump sum, investing through an ISA ensures that your income and capital gains benefit from tax-efficient growth.
Compare Junior ISAs
Junior ISAs have replaced the old Child Trust Funds and provide an easy way for family and relatives to save for a child’s future. There are both Cash ISAs and Stocks and Shares ISAs available for children.
Junior ISA Rules:
- The child must be under 18 and live in the UK
- They must not already hold a Child Trust Fund (CTF) account but can transfer the fund in to an ISA
- Each eligible child is permitted to hold one junior cash ISA and one junior stocks and shares ISA in a year, as long as the total amount invested during the tax year does not exceed the allowance
- If child is under 16, someone with parental responsibility must open the account for them
- The account will pass fully to the child when they turn 18