We are excited to announce that from today investors can now open a LendingCrowd Innovative Finance ISA (IFISA).
IFISAs are the new way to invest tax-free. Just like Cash and Stocks & Shares ISAs, you can invest up to £15,240 in the current tax year, with no personal taxes to pay on your returns. From the 2017/18 tax year you will be able to invest even more — up to £20,000.
You can also transfer in unlimited ISA funds from previous tax years to an IFISA.
Tax-free returns when you lend to established British businesses
You’ll be investing in the fast-growing peer-to-peer lending market and with LendingCrowd you can do it all online. Your loan portfolio is spread across a range of small business loans and is designed to achieve a target rate of return of 6% a year*.
It’s easy to to start investing
New investors – create your account online in minutes and complete the verification check using your a passport or driving licence. Then simply add funds to your account.
Existing investors – just log in and visit the My Accounts page to open your Innovative Finance ISA.
Open account online in minutes – start from just £1,000 and invest up to £15,240 in the 2016/2017 tax year
Earn 6%* a year with tax-free returns – the target rate after ongoing management fees and estimated bad debts
No fixed term – you can choose to sell holdings and withdraw cash at any time. A 1% fee applies on withdrawals
Build your own portfolio with one click – your investment is spread across a portfolio of loans to established credit-assessed UK businesses
We use our newly-launched Growth Account to invest your funds with target rate of return of 6%*p.a. Funds transferred into the ISA will be spread across a diversified portfolio of at least 20 business loans, with no more than 5% of funds invested in any one loan. All capital and interest repayments are reinvested to further diversify holdings.
There’s no fixed term for investing and lenders can choose to sell their holdings and withdraw cash at any time for a 1% fee.
You can read more about ISA here.
*Capital at risk. This is a variable target rate net of management fees and bad debt.