Why choose a cash ISA

Whether a cash ISA is the best option will depend on your circumstances and savings goals. But some of the benefits include:

• Tax free savings up to the maximum allowance
• Choose an easy access account for flexibility, or choose a fixed rate bond to guarantee your rate
• Transfer previous ISA allowances

The ISA allowance for the 2023/24 tax year is £20,000. This means you can save £20,000 of new money into your ISA in this tax year.

Our Cash ISA maximum balance is £250,000 so you can transfer other ISA balances into your new Shawbrook ISA up to £250,000.

If these balances are from previous tax years, they do not count towards the £20,000 limit in the current tax year 2023/24.

If you're splitting your ISA allowance over several ISAs, the maximum deposit across all of your accounts is £20,000.

You can only open and fund one ISA account with Shawbrook in any tax year.

 

Was this article helpful?
0 out of 0 found this helpful