About ISAs
What is a Cash ISA?
- ISA stands for Individual Savings Account and these were introduced by the Government to encourage everyone to save for the future by investing in tax free savings
- You can invest from £1 up to £5,340 each tax year and benefit from tax free savings. The tax year runs from 6 April to 5 April the following year
- You can invest in one lump sum or in any number of smaller payments up to £5,340
- Please remember that Cash ISAs have an allowance each tax year.
This means that you cannot deposit more than your maximum allowance in a tax year,
even if you make a withdrawal. For example, if you save £5,340 then take out £500,
you cannot make another deposit until the next tax year - ING Direct only offers Cash ISAs and not Stocks & Shares ISAs
The value of tax treatment described will depend on individual circumstances. Tax rules could change.
Why choose a Cash ISA?
You may want to consider a Cash ISA because:
- Cash ISAs offer you a simple way to save without paying tax on your interest
- A Cash ISA allows you to save from £1 up to £5,340 subscription limit each tax year
- With the ING Direct Cash ISA you can move your money out whenever you like with no loss of interest or charges