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

Stocks & Shares ISA

from Interactive Investor

Regular Savings
Allows ISA Transfers
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds
  • Invest From: £25 pm

Why we like it: An award-winning ISA that gives you complete control. The second largest platform in the UK with the widest choice of investment options in the market including funds, investment trusts, ETF’s and more. Open online in less than 10 minutes. Access to expert independent ideas and analysis. Low cost fees and trading. Capital at risk.

Stocks & Shares ISA

from InvestEngine

Regular Savings
Allows ISA Transfers
  • Fund Choice: Offering commission-free DIY investing or low-cost, professionally managed income or growth portfolios built for you
  • Invest From: £100
See Deal Transfer to InvestEngine by 31/05/24 and receive a bonus of up to £2,500. Open to new or existing customers. (Capital at risk, Ts&Cs apply)

Why we like it: Make the most of the world’s best ETFs commission free. Build your own portfolio commission free or leave it to our experts for just 0.25%. Zero‑ISA fees. Choice of 600+ ETFs. Low cost, diversified, index-tracking of stock markets, bonds and commodities. DIY or Managed. Capital at Risk

Stocks & Shares ISA

from Nutmeg

ISA Option
Allows ISA Transfers
  • Fund Choice: Nutmeg offer 5 diversified portfolios with ETFs, using technology to keep charges low
  • Invest From: Min. £500 single

Why we like it: Get an intelligent stocks & shares ISA portfolio – Choose a portfolio that’s fully managed by our expert team or a fixed allocation portfolio. No tie-ins, no set-up fees, no exit charges. Easy, online set up in minutes. Start with as little as £500. Portfolio management fees of 0.45%-0.75% up to £100k. 0.25%-0.35% beyond £100k. There are also underlying investment charges, see our fees page. Plus, live chat, amazing customer support and brilliant investor tools and guides. Authorised and regulated by the FCA. Capital at risk. Tax treatment depends on your individual circumstances and may change in the future. Capital at risk. Approved by Nutmeg 24/02/2023

Stocks & Shares ISA

from Moneybox

ISA Option
Allows ISA Transfers
  • Fund Choice: Choose from a range of 36 funds and ETFs and 20 US stocks. Select one of three simple starting options with a range of tracker funds or build your own investment portfolio by customising your investment options
  • Invest From: £1

Why we like it: Choose from a range of 36 funds and ETFs and 20 US stocks to invest with Moneybox. Earn 3.8% AER Variable on any uninvested cash you hold. There are additional fees charged directly by the fund provider. Please check the key investor information document (KIID) for a particular fund for more information. Keep things simple and get started with one of our three starting options: Cautious, Balanced or Adventurous – and customise your investments to align with your values. Open with as little as £1. When investing, your capital is at risk

Stocks & Shares ISA

from Wealthify

Regular Savings
Allows ISA Transfers
  • Fund Choice: 10 managed portfolios to choose from. Choose your risk profile and have an investment Plan built and managed for you
  • Invest From: £1

Why we like it: Choose your level of risk from cautious to adventurous and have a plan expertly created and managed for you. Create multiple Plans – including Ethical Plans – with different risk levels. Invest as little or much as you like, add regular payments and top up whenever you like. Withdraw money or transfer out without notice or penalty fees. Wealthify app lets you check how your Plan is performing, manage your transactions and provide investment news and insights. Simple annual management charge of 0.6%

Stocks & Shares ISA

from AJ Bell

Regular Savings
Allows ISA Transfers
  • Fund Choice: Invest in over 2,000 funds, shares and more across 25 markets
  • Invest From: £25 pm

Why we like it: Invest in over 2,000 funds, shares and more across 25 markets. Invest from £25 per month. Which? Recommended Provider for Investment Platforms 2019–2023. Low-cost online dealing from £3.50.  Open your account in minutes from app or website, manage your portfolio on the move. FSCS protected. Capital at risk

Stocks & Shares ISA

from Beanstalk

Regular Savings
Allows ISA Transfers
  • Fund Choice: Allocate your savings between a cash money market fund from L&G and investment shares fund from Fidelity
  • Invest From: £10

Why we like it: App based stocks & shares ISA account. Choose to allocate your contributions between the two funds on offer in whatever proportion you choose: a shares fund (Fidelity Global Index fund) which aims to track the performance of global stock markets and therefore large companies such as Amazon, Facebook, Google and Johnson & Johnson, and a cash fund (Legal & General Cash Trust fund) which aims to provide returns in line with money market rates. Annual fee of 0.5% on the value of any investments. Two funds with their own management fees of between 0.12% and 0.15%. Change your allocation at any point. Option to opt into Round ups – collected from your bank by direct debit on a weekly basis and invested in line with your investment allocation

Stocks & Shares ISA

from Freetrade

ISA Option
Allows ISA Transfers
  • Fund Choice: Invest in 6,100+ US, UK & European stocks & ETFs commission-free
  • Invest From: £2
See Deal Sign up to Freetrade and you'll get a free share worth £10 to £100. T&C's apply

Why we like it: Commission-free investing: No fees for buying or selling stocks (other charges may apply). Support: Fast and friendly customer support. A wide range of investments: 6,100+ US, UK, and European stocks, ETFs, and investment trusts. Low monthly fees: From £4.99/month. Capital at risk. Other charges may apply

Stocks & Shares ISA

from Shepherds

Regular Savings
Allows ISA Transfers
  • 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

Why we like it: You don’t have to make any tricky investment decisions; your money will be invested in Shepherds With Profits Fund, and the bonuses you could receive will depend on the future performance of the fund. To try to achieve higher returns for you, your money is invested in a variety of assets, the majority of which consist of stocks and shares, but also property, bonds and cash. While returns are not guaranteed in stocks and shares investments and the value can go down as well as up, Shepherds apply a process known as ‘smoothing’ that attempts to even out fluctuations in the value and aims to keep a consistent level of bonus payments. Capital at risk.

Stocks & Shares ISA

from Best Invest

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

Why we like it: Pick your own investments or choose a Ready-made Portfolio. Some of the lowest investment ISA account fees available. Tiered service fees of 0.2% or less a year, no set-up fees and share dealing for just £4.95 per trade. You don’t pay anything to open your ISA or buy funds, and share dealing costs just £4.95 per trade. Voted Best ISA Provider at the City of London Wealth Management Awards 2020. Capital at risk.

Stocks & Shares ISA

from Hargreaves Lansdown

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

Why we like it: Hargreaves Lansdown are the UK’s no. 1 investment platform for private investors – kickstart your investing with their award-winning ISA. Choose your own investments with expert research and ideas to help you, or simply pick a ready-made portfolio. Manage via website, app or phone. Capital at risk.

Investment ISA

from Barclays

Regular Savings
Allows ISA Transfers
  • Fund Choice: Invest in over 2,000 funds, plus Exchange Traded Funds, Investment Trusts, UK & International shares and more. Five Ready-made Investment funds if you’re not sure where to invest. Capital at risk.
  • Invest From: £50

My Money Builder Select ISA

from Scottish Friendly

ISA Option
Regular Savings
Allows ISA Transfers
  • Fund Choice: Invested in a single fund - the Unitised With-Profits fund. A mixed managed fund from Scottish Friendly where premiums are pooled with those of other clients and returns are linked to the performance of the underlying assets within the fund
  • Invest From: £10 pm o r £100 single

Why we like it: Invest from only £10 a month, lump sums from just £100 or a combination of both using your tax-free Investment ISA allowance. You can stop, restart, raise or lower your payments or your investments and cash in whenever you want. When you set up a My MoneyBuilder Select (ISA), your money will be invested in a single fund – the Unitised With-Profits fund. A mixed managed fund from Scottish Friendly where premiums are pooled with those of other clients and returns are linked to the performance of the underlying assets within the fund. Remember the value of investments can go down as well as up, and you could get back less than you’ve paid in. If you cash in before the end of 5 years there will be a £50 deduction from your cash-in value.

Stocks & Shares ISA

from Moneyfarm

Regular Savings
Allows ISA Transfers
  • Fund Choice: Choose your risk profile and have it matched to an investment portfolio expertly built and managed.
  • Invest From: £1,500

Why we like it: Answer questions about your goals, financial situation and attitude to risk, and Moneyfarm will recommend the right ISA portfolio for you, built and managed by experts to help your money grow. You’ll always be invested in a portfolio that’s suitable for you, and you can manage this through the Advice Centre. See what you’re invested in, how you’re performing and how much you’re paying anywhere and any time with the Moneyfarm app. Add money to your ISA by setting up a direct debit, investing a lump-sum, or by transferring old ISAs for free. Capital at risk.

Share Dealing ISA

from IG

Allows ISA Transfers
  • Trade From (frequent trader rate): £3.00
  • Trade From (standard trader rate): £8.00

Good to know: Pay zero commission on US share trades, and just £3 on UK share trades, when you trade three or more times a month with IG. No admin or transfer fees. Custody fee of £24 per quarter, charged if you hold share dealing or ISA assets at the end of the quarter. Capital at risk. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider

Stocks & Shares ISA

from Fidelity

Regular Savings
Allows ISA Transfers
  • 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
  • Invest From: £25 pm

Why we like it: This award-winning ISA has an extensive range of investment options, including thousands of funds and shares, plus a guidance service to help you find investment ideas. There is a low service fee (typically 0.35%), easy online application process and apps to manage your money on the move. Additional charges apply depending on your choice of investments. Plus, everything is backed by Fidelity’s 50 years of investment experience. Boring Money Best Buy ISA 2023

Stocks & Shares ISA

from TILLIT

  • Fund Choice: TILLIT filter the market and select the best-in-class active and passive funds across asset classes, regions and styles

Why we like it: Let Tillett filter the market for you. From well-known classics to trailblazers and wildcards. No one needs 5,000 funds. Get breadth and variety, without the choice paralysis

Stocks & Shares ISA

from ChipX

ISA Option
Allows ISA Transfers
  • Fund Choice: Save and invest across investment funds, cash savings, and real assets
  • Invest From: No minimum

Why we like it: Chip is an award-winning wealth management app designed for our generation. The UK’s only app that enables you to invest in unique and iconic real assets, as well as investment funds and savings accounts. Save and invest your way, or use our clever tech to build wealth automatically. Our range of diversified investment funds are managed by some of the world’s biggest asset managers, like BlackRock. Invest in things that matter to you, like Clean Energy and Healthcare Innovation, or explore funds that match a wide range of risk appetites, from Cautious to Adventurous. Or, if you want to build up your cash savings, we work with UK partner banks to bring you free FSCS protected savings accounts with competitive interest rates. Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future When investing, your capital is at risk

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. 

Frequently Asked Questions

Am I committed to one ISA provider forever?

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

Are ISA accounts safe?

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.

Can I lose money in an ISA?

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.

Can I withdraw money from an 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.

How do I withdraw money from my ISA?

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

How long does it take to withdraw from an ISA?

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

How much can I contribute to an ISA?

The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2023/24 tax year.

When does the ISA tax year run to?

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.

Will I be charged for an ISA?

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.