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How will the change to the Base Rate affect my cash ISA?

On 4th August 2016 the Bank of England announced a decrease in the Bank of England Base Rate from 0.50% to 0.25%.

Changes to our cash ISA conditions

We are making some changes to the conditions for our cash ISAs which come into effect on 6 April 2017. The changes will allow transfers in and to a new type of ISA, lifetime ISA. Lloyds Bank does not currently offer lifetime ISAs.


You will be able to view the up to date conditions from 6 April 2017.

The annual ISA limit is £15,240 this tax year.

You can choose to save or invest your allowance in a cash ISA, a stocks & shares ISA, an innovative finance ISA, or a combination of all three , providing you don't exceed the annual limit.

Lloyds Bank offer two types of ISA: 

  • Cash ISAs - where there is no tax to pay on the interest you earn (tax-free).
  • Stocks and shares ISAs - where growth in your investment is free from both income tax and capital gains tax (tax-efficient). 

The junior ISA allowance for this tax year is £4,080 and covers contributions to both junior cash ISAs and junior investment ISAs.

ISAs explained

ISA

Save: Cash ISA

  • Open with as little as £1.
  • Choice of easy access or fixed term accounts.
  • Withdraw and replace funds from some of our cash ISAs without affecting your yearly ISA allowance.
  • Available if you’re aged 16 or over and are resident in the UK.

Compare our cash ISAs

ISA

Grow: Investment ISA

  • Investments 100% managed for you.
  • Invest a lump sum (£2,000+), monthly amounts (£100+), or both.
  • No fixed term, but designed to be held for at least 5 years.
  • The value of your investment and the income from it can go down as well as up and you may get back less than you originally invested.

 Investment ISA

ISA

Provide: Junior Cash ISA

  • Available to children under 18 years old.                                                                                                  
  • Open with as little as £1.
  • You can transfer Child Trust Funds to a Junior Cash ISA.

Junior Cash ISA

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Help to Buy: ISA

If you’re a first time buyer saving for your first home, our Help to Buy: ISA could help you get your foot in the door.

THE VALUE OF YOUR INVESTMENTS AND THE INCOME FROM THEM CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU ORIGINALLY INVESTED. YOU MUST BE AT LEAST 18 OR OVER TO OPEN A STOCKS AND SHARES ISA. TAX TREATMENT DEPENDS ON YOUR INDIVIDUAL CIRCUMSTANCES AND MAY CHANGE.