Individual Savings Accounts (ISAs) offer investors and savers a tax efficient way to save or invest. An Innovative Finance ISA (IFISA) is a type of ISA that allows you to include investments that have been made via crowdfunded bonds or peer-to-peer loans. As with all ISAs, you receive interest tax-free.
Once you have read the offer document of an IFISA eligible investment, you will have the option to continue with an IFISA. You can then open your IFISA online and your investment will be included within it. You'll also have the option to include future investments made through this platform.
The total annual ISA allowance is £20,000 into either a Stocks & Shares ISA, Cash ISA or an Innovative Finance ISA. Alternatively, you can split your investment between each type of ISA providing you stay within the overall £20,000 limit.
If you wish to invest money you hold in another ISA, you will first need to request an ISA transfer. This must be done before starting your investment application. Go to ‘Account’ and choose the ISA transfers option once you’ve become a registered user of the platform.
The IFISA is not the same as a Cash ISA as your capital is at risk and is not protected by the Financial Services Compensation Scheme
Triodos Bank offers a full range of ethical ISAs, including Cash and Stocks & Shares ISAs. Further information about all of our ISAs can be found on our website.
More information about the IFISA, including further details on how to transfer your existing ISA, can be found on our Frequently Asked Questions page.