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Compare Tesco ISAs

Compare ISAs from Tesco and other ISA options available.

Investment ISAs put your capital at risk & you may get back less than you originally invested

What you're looking for isn't available; however, these brands may offer suitable alternatives

Stocks & Shares ISA

from Nutmeg

Allows ISA Transfers
  • Fund Choice: Nutmeg offer 4 diversified portfolios with ETFs, using technology to keep charges low.
  • Invest From: Min. £500 single

Stocks & Shares ISA

from AJ Bell

Allows ISA Transfers
Regular Savings
  • Fund Choice: Wide range of stocks and shares, over 2,000 funds (unit trusts and OEICs), investment trusts and ETFs. Capital at risk.
  • Invest From: £25 pm

Stocks & Shares ISA

from Interactive Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds. Special offer: Open an ISA with £1,000 or more before Sunday and be in with a chance to win £100 of free trades. New customers only. Terms apply. Capital at risk.
  • Invest From: £25 pm
See Deal Special offer: Transfer an ISA worth £10,000 or more before 30 June and get £100 cashback. New customers only. Terms apply. Capital at risk.

Stocks & Shares ISA

from Hargreaves Lansdown

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 3,000 funds, shares, investment trusts and more to build your portfolio. Capital at risk.
  • Invest From: £25 pm or £100 lump sum

Stocks & Shares ISA

from Best Invest

ISA Option
Allows ISA Transfers
Regular Savings
  • Fund Choice: Over 2,500 funds, UK shares, investment trusts and ETFs or choose Ready Made & Managed Portfolios
  • Invest From: No minimum

Stocks & Shares ISAs

from Fidelity

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 4,000 investment options, including one of the widest fund ranges in the UK. With online guidance tools and expert fund ideas to help you choose. Capital at risk
  • Invest From: £25 pm

Stocks & Shares ISA

from Fineco

Allows ISA Transfers
  • Fund Choice: A complete multi-currency platform with low fees. Premium trading without premium prices. Choice of worldwide asset managers.
  • Invest From: £100
See Deal Zero Platform Fees - Until the end of the 2022/23 tax year if you open your ISA by 30 April 2022. 0.25% max when promo ends.

Stocks & Shares ISA

from Wealthify

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have an investment Plan built and managed for you.
  • Invest From: £1

Stocks & Shares ISA

from Shepherds

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in the Shepherds With Profits Fund which offers medium to low risk investing, with the aim of growing your money in a smooth manner over the long term.
  • Invest From: £30 pm

Stocks & Shares ISA

from Moneyfarm

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have it matched to an investment portfolio expertly built and managed.
  • Invest From: £1,500
See Deal Up to £400 for all new users that create an account until the end of April

Stocks & Shares ISA

from InvestEngine

Allows ISA Transfers
Regular Savings
  • Fund Choice: Offering commission-free DIY investing or low-cost, professionally managed income or growth portfolios built for you
  • Invest From: £100

My Choice ISA

from Scottish Friendly

Allows ISA Transfers
Regular Savings
  • Fund Choice: A choice of 10 funds so you can pick those that best suit your needs, whether that is just one, a mixture of all 10 or somewhere in between.
  • Invest From: £10pm

Stocks & Shares ISA

from Beanstalk

Allows ISA Transfers
  • Fund Choice: Choose from two funds: a cash fund that aims to provide returns in line with money market rates and a shares fund that aims to track the performance of global stock markets.
  • Invest From: £10

Stocks & Shares ISA

from Willis Owen

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from a wide range of funds, shares, investment trusts and ETFs. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
  • Invest From: £25

Investment ISA

from Barclays Smart Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in over 2,000 funds, plus Exchange Traded Funds, Investment Trusts, Shares and more. 5 Ready-made Investment funds if you’re not sure where to invest. Capital at risk.
  • Invest From: Any amount

Who are Tesco Bank?

Originally founded as Tesco Personal Finance in 1997, Tesco Bank offer various financial services to its banking customers including credit cards, bank accounts, loans, savings accounts and insurance policies.

A unique selling point of Tesco’s financial services is the crossover to their supermarket services via their Clubcard points, which accumulate when you use any of their financial products.

ISA accounts are one type of savings account that Tesco Bank provide to retail customers, and they exclusively offer Cash ISAs and not Stocks and Shares ISAs.

What is an ISA account?

Investing in an ISA is a way to protect your savings and investments from income and capital gains tax.

In a regular savings account, you have to pay tax on:

  • Interest you earn on your cash savings
  • Dividends you receive from stock investments
  • Capital gains you make on stock investments when you sell them for a profit

If you invest in an ISA, you are never required to pay any taxes on the above earnings, even when you come to withdraw your funds.

HMRC allows UK residents to invest up to £20,000 into ISA accounts in the current tax year, and this allowance refreshes each year so you can keep topping up.

What type of ISA is a Tesco ISA?

Tesco do not currently provide a Stocks and Shares ISA, but they do offer two types of Cash ISA products: Fixed Rate ISAs and Variable Rate ISAs (otherwise known as instant-access ISAs).

What’s the difference between a fixed-rate ISA and a variable-rate ISA?

Here’s a checklist for each type of Cash ISA to give you an idea of the pros and cons of each:

Fixed-Rate ISAs

  1. Fixed-rate ISAs generate a guaranteed rate of interest on your savings
  2. You are locked into a specific term length, from 1 to 5 years
  3. If you withdraw or close your account during your term, you are charged or will lose a portion of your interest
  4. The longer your fixed ISA term, the higher interest rates you’ll receive

Instant-Access ISAs

  1. Variable-rate ISAs generate a rate of interest that can fluctuate
  2. Variable interest rates are usually lower than fixed rates
  3. You can usually make unlimited withdrawals free of charge with no notice period

How do I open a Tesco Bank ISA?

  • You must have a UK bank account in your name that you can make payments from and receive withdrawals to
  • You must be a UK resident, or a Crown employee serving overseas, or be married to or in a civil partnership with a Crown employee
  • You must be over the age of 18

If you are eligible, then you can open a Tesco ISA online via their banking website, and the process only takes a matter of minutes.

Can I transfer my ISA into a Tesco Bank ISA?

You can transfer any existing ISAs you hold with other providers to a new or existing Tesco Bank ISA.

To do so, you’ll need to complete an ISA transfer form with Tesco Bank and submit your transfer request to them directly.

Tesco Bank will then liaise with your previous ISA provider to transfer your account to them.

The great thing about ISA transfers is that they don’t count towards your annual ISA allowance.

This means that you can transfer as many ISAs as you like into a new ISA in the same tax year, without having to worry about the £20,000 limit for contributions.

However, make sure you complete your ISA transfer with an ISA transfer form and let your new provider carry out the transfer.

If you simply withdraw your old ISA to your bank account and then add it to a new ISA, your money will lose its ISA status. When you then contribute it back in, it will deduct from your annual allowance.

Also, make sure to check with your existing ISA provider to see if there are any penalties or charges for transferring away.

What ISA rules do I need to be aware of?

Before investing in an ISA, it’s important to know some of the key restrictions and limitations of the accounts.

We’ve summarised the most important rules to keep in mind:

  • The annual ISA allowance is £20,000 in the current tax year - don’t contribute over this limit.
  • Your allowance can be shared between Cash ISAs and Stocks and Shares ISAs, so you can share your contributions between both types if you wish.
  • You're not allowed to contribute to more than one Cash ISA in the same tax year, or more than one Stocks and Shares ISA in the same year.
  • You can, however, open multiple Cash ISAs with different providers across more than one tax year, and the same goes for Stocks and Shares ISAs.
  • You can transfer existing ISAs to new ISA accounts without it counting towards your ISA allowance.
  • Your ISA allowance does not roll over – use it or lose it.
  • The ISA allowance refreshes on 6th April in line with the tax year dates. 
Sam Hodgson
Edited by Sam Hodgson - ISA.co.uk

Frequently Asked Questions

No. You can switch providers with an ISA transfer if you wish. You can also contribute to other ISA providers in separate tax years.

ISA accounts are authorised and regulated by the Financial Conduct Authority (FCA). This means that all ISA providers are covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 if they go out of business.

Please note that this may not apply to the underlying holdings within a Stocks and Shares ISA, and will not cover standard investment losses. 

You can lose money in a Stocks and Shares ISA if your investments go down in value. You cannot lose money with a Cash ISA.

For Cash or Stocks and Shares ISAs, yes, although some Cash ISAs may charge a fee or void your interest if you surrender your policy before the fixed term has ended.

Most providers will allow you to withdraw from your ISA online, via a mobile app, telephone, or by written instruction in the post.

Most ISA withdrawals will complete in approximately five working days, but they could take longer depending on the assets you need to sell.

The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2022/23 tax year.

The annual ISA allowance runs in line with the normal tax year, which is 6th April to 5th April the following year. Your ISA allowance will refresh on 6th April each year.

A Stocks and Shares ISA provider will charge an ongoing, annual platform fee as well as some ad hoc charges.

A Cash ISA could also charge if you withdraw money before the end of a fixed-term investment.

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.