Lloyds Stocks and Shares ISA

Lloyds Stocks and Shares ISA

Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales.

It has traditionally been considered one of the "Big Four" clearing banks

Choosing an investment ISA

Whether you’re looking to put aside some money each month or you have some spare money that you’d like to do something with, an investment ISA could be a tax-efficient way for you to do that.

You are able to invest anything up to the tax threshold for that year and choose to have it spread across a Cash, Stocks and Shares and Innovative Finance ISA or consolidated within one account.

As you can only fund one Stocks and Shares ISA per tax year it’s a good idea to shop around before you make your choice.

However, as all providers must allow you to move your money you are able to transfer but it’s worth checking if your current provider charges penalties. Otherwise you could receive back less than you originally invested.

Generally, Stocks and Shares ISAs have the potential to provide better returns than a savings account but customers must be prepared for the risks that are always present with investing.

There is a chance you could end up with less than you invested depending on market growth.

Lloyds Stocks and Shares ISA Review

ISAs can help you grow your investments faster over time.

This is because you won’t be taxed on any returns you make on your investments within an ISA.

With the Lloyds Stocks and Shares ISA you can:

1. Choose between their three managed funds to invest all or part of your annual ISA allowance: lower, medium, or higher risk and potential return
2. Start investing from £100 a month, or if you are looking to invest an initial lump sum the minimum is £2,000. Alternatively, you can do both.
3. Transfer money in from an existing cash or stocks and shares ISA and preserve the tax efficient status as long as you follow the correct procedure
4. Use Internet Banking to monitor your Investment ISA’s performance, top up your investment, set up regular investments, or switch your money between their three managed funds
5. You can sell all or part of your investment at any time and we won’t charge you a fee for doing so.

This account is great for people who are not confident in making investments on their own as their fund managers will decide where your money is invested depending on the risk level you choose.

Useful to Know

Unlike a savings account, there are costs associated with investing.

With this account:

1. There is an ongoing charge of 0.45% of the value of your investments each year, as well as a service fee of 0.24% of the value of your investments each year

You must be an existing Lloyds Bank customer with internet banking to set-up this account.