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TSB ISA

Compare Your Stocks & Shares ISA Options

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 Hargreaves Lansdown

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 2,500 funds, shares, investment trusts and more to build your portfolio.
  • 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

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 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 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.
  • Invest From: £25 pm

Share Dealing ISA

from IG

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

Stocks & Shares ISA

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.
  • Invest From: £25 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

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 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

Who are TSB?

TSB are a popular retail and commercial bank in the UK. The TSB name derives from Trustee Savings Bank, a company in its own right prior to merging with Lloyds in 1995. In 2015, they were acquired by Banco Sabadell of Spain.

TSB offer various banking and financial services, and still operate local bank branches across the company. ISA accounts, specifically Cash ISAs, are among the various financial products they offer to their customers.

What is a TSB ISA?

A TSB ISA account is a completely tax-free savings account.

There are two main types of ISA accounts:

  • Cash ISAs
  • Stocks and Shares ISAs

TSB’s ISA is a Cash ISA, and they don’t currently offer a Stocks and Shares ISA product.

Cash ISAs provide investors with variable or guaranteed interest rates on their savings in a tax-efficient wrapper.

What are the tax benefits of a TSB ISA?

All ISA accounts are 100% free from tax.

As TSB ISAs are Cash ISAs, this means you don’t have to pay tax on the interest your ISA earns.

In a normal savings account, you have to declare the interest you earn if it’s over your annual allowance, and depending on your other income sources you could be required to pay tax on these savings.

But if you invest in a Cash ISA, you never need to worry about declaring your interest or paying tax on it. Even when you withdraw your funds, you don’t have to pay tax.

What is a TSB Cash ISA?

While Stocks and Shares ISAs give you access to invest in the stock market, your money is always kept as cash in a Cash ISA.

This means that your ISA cannot fall in value and you’ll always get back at least what you originally invest (provided you don’t incur any early withdrawal charges if applicable).

What are the different types of TSB Cash ISAs?

TSB offer a few different types of Cash ISAs, and they vary in the interest they pay and the flexibility of your investment withdrawals.

  • Instant access Cash ISAs offer lower interest rates but allow you to access your funds for withdrawals at any time, free of charge. These are great for flexible investing.
  • Flexible rate Cash ISAs offer better interest rates than instant access ISAs, but you are penalised for withdrawals. You usually lose the month’s interest that you withdraw in, so they’re not as flexible.
  • Fixed-rate Cash ISAs provide the best interest rates out of all of TSB’s Cash ISAs. However, you are locked into a fixed term of 18 or 24 months. If you withdraw before the end of your term, you will incur more significant charges and it could outweigh the preferable interest rates you were getting.

What are the Cash ISA rules?

Here’s a list of the key rules to be aware of before you invest in a TSB Cash ISA:

  • You can only invest up to £20,000 in the current tax year in ISAs
  • This annual allowance includes any Stocks and Shares ISA contributions you make too
  • You can have multiple Cash ISAs, but you can only add money to one Cash ISA per tax year
  • You cannot have a joint Cash ISA, and nobody else can put money into your ISA
  • You may be charged for withdrawing depending on the type of interest your Cash ISA offers (see above)
  • You can transfer ISAs between providers and it won’t count towards your ISA allowance
  • Your ISA allowance doesn’t roll over, so you lose any of your allowance you don’t use
  • Your allowance refreshes every tax year, but HMRC sometimes changes the annual allowance

Who can open a TSB ISA account?

Anybody can open a TBS Cash ISA as long as they are over 18 and a UK resident.

How do I open a TSB ISA account?

The quickest and easiest way to open a TSB Cash ISA is online through the website. You can open an account in a matter of minutes, and you’ll just need to supply some basic personal information and make a contribution.

You can make your contribution either via a debit card payment or by setting up a Direct Debit regular payment. 

Sam Hodgson
Edited by Sam Hodgson - ISA.co.uk

Frequently Asked Questions

The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2021/22 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.

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.

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

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

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.

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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.

Lifetime ISAs

Save for your first home and retirement

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Junior ISAs

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Stocks & Shares ISAs

Invest tax-free in stocks and shares 

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Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

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