Compare AXA ISAs

AXA ISAs

When it comes to ISAs it is a good idea to try and find the product that will help you get the most out of your maximum allowance whether you are interested in a stocks and shares ISA, cash ISA or both. AXA currently offer a stocks and shares ISA but do not have a Cash ISA product, you might find it useful to check out the comparison table below to compare a selection of different ISAs from various providers, before you decide if AXA is the top product for your specific needs:

AXA Stocks & Shares ISA: Allows you to invest with a one off deposit or monthly instalments, you earn a variable rate of interest on any cash held in your ISA while deciding where to invest and can control your own investments online with AXA’s service.

ISA Guide:

In order to be eligible for a UK ISA you need to be:

1. Aged 16 or over for a cash ISA.
2. Aged 18 or over for a stocks and shares ISA.
3. A resident of the United Kingdom.
4. If you don’t live in the UK then you need to be a Crown Servant or their spouse/civil partner.
5. You can open a Junior ISA for someone under 18 who you have parental responsibility for.

There are two categories of UK ISA: Cash ISA and Stocks & Shares ISA, which differ considerable from each other. You can open a maximum of one of each type of ISA each tax year. As your ISA allowance stays the same if you do open both kinds of ISA then you will need to break up this allowance between the two accounts, this doesn’t have to be a 50/50 split however you can do so at a ratio of your choice e.g. 70% of your allowance used by a cash ISA and the remaining 30% in a stocks and shares ISA.

1. Cash ISAs – Are a type of savings account where interest accrues on the money deposited in the account however, unlike with traditional savings accounts, this interest is paid tax-free up to your maximum allowance. There are different types of Cash ISA usually offered by banks and building societies, products offered may include; Fixed Rate, Notice Period and Instant Access accounts.

1. Stocks & Shares ISAs –Are a kind of investment account that offers a tax efficient wrapper for your money. You can then use this account to invest in various products like bonds and funds. Some products may be referred to as ‘self-select’ which allow you to directly pick what stocks and shares you invest in, other ISAs of this kind will give you a choice of managed funds to invest in. You don’t need to pay capital gains tax or income tax on profits made from your investments increasing in value, however you will still be taxed on any dividends. It is important to remember that these are capital at risk products, so if the value of your investments decreases you can get back less than your originally put in.

ISA Transfers

It is possible to transfer an ISA to another provider or to a different ISA with the same provider. However you may incur an interest penalty for doing so.