Learn more about Cash ISAs
What is a Cash ISA?
A Cash ISA (Individual Savings Account) is a simple product that provides you with a way of saving your money so that the interest you receive is tax-free. With regular savings accounts any interest you receive is normally taxable – so you could be paying unnecessary tax on the interest. Cash ISAs were introduced by the government to encourage people to save more by – giving you a special tax advantage.
Our Cash ISAs are simple and as straight forward to open as any other regular savings account.
How much can I save in an ISA?
If you're a UK resident you can save up to £5,100 each tax year in a Cash ISA.
How many ISA(s) can I have?
You can only put money into one Cash ISA each tax year, but there is no limit to the number of different ISA(s) you can hold over time.
Can I move my ISA from another provider into Intelligent Finance?
Yes. Transferring existing Cash ISA(s) to Intelligent Finance is effortless. Whether you already have a Cash ISA with us, or are opening a new jar, our transfer service allows you to consolidate all your previous years' Cash ISA subscriptions and maximise the benefit you get from your Intelligent Finance Cash ISA.
Can I make a withdrawal from my Cash ISA?
You can withdraw money from your Intelligent Finance Cash ISA as and when you choose. There are no restrictions or penalties for withdrawal. However, if you have deposited the full allowance in one tax year, any funds withdrawn can't be replaced.
Can I close my Cash ISA?
You can close your Intelligent Finance Cash ISA and withdraw funds at any time. If you wish to change ISA providers, you should transfer your Cash ISA to ensure you keep your tax-free allowance and keep in mind that you can only reinvest subject to your yearly Cash ISA allowance.
What happens if I don’t use my yearly allowance?
You won't be able to carry forward any unused portion of your allowance to the next tax year. This means it's important to use up your allowance each tax year to maximise the benefit of your Cash ISA allowance.
How can I find out about my interest rate?
You can find out the current interest rate for your Cash ISA online or call us on 0845 609 4343.
How is the interest calculated on my Cash ISA?
Interest is calculated on a daily basis and can be paid either monthly or annually. Interest can be paid into your Cash ISA jar, another savings jar in your plan or to your connected account.
Can I offset my Cash ISA savings against my Intelligent Finance mortgage?
If you're an existing Intelligent Finance offset mortgage customer, you can offset any of our savings products, including your Cash ISA against your mortgage.
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