An Individual Savings Account (ISA) is a tax-efficient savings and investment account that allows you to earn interest or returns without paying tax on them.
Who can apply for an ISA account?
To apply for an ISA account you must be a resident of the UK for tax purposes and be at least 18 years old. Make sure you have your UK National Insurance number to hand when applying as you’ll need this to help to verify your residency status.
Curently, it is possible to apply for an ISA account and manage it only via the mobile application. We are working on making Cash ISA and Stocks & Shares ISA available on the xStation web platform as well.
What types of ISAs does XTB offer?
XTB offers a Flexible Stocks & Shares ISA and a Flexible Cash ISA.
In a flexible ISA, you can withdraw funds at any time. The key feature is that you can replace any amount you withdraw within the same tax year without affecting your annual contribution limit.
If you withdraw £1,000, you can contribute an additional £1,000 later in the same tax year without it counting against your £20,000 limit. This allows for greater flexibility in managing your investments.
What is the annual ISA contribution limit?
For the current tax year, the annual contribution limit is £20,000. This total can be spread across different types of ISAs.
The annual ISA allowance resets at the start of every new tax year on 6 April.
Does XTB offer interest rates on uninvested funds for ISA?
Yes, XTB offers a variable rate of 4% AER on a Cash ISA and a Flexible Cash ISA uninvested funds.
🚩Please note we do not charge inactivity fees for ISAs.