Lloyds TSB ISA

By: EconomyWatch   Date: 30 September 2009

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A Lloyds TSB ISA is a tax free investment option, into which one can place cash or stocks and shares. The bank offers both types of ISAs, cash and stocks and shares. Any return on investments from the ISAs will not attract income tax or capital gains tax. One can save up to £3,600 in a cash ISA every tax year, while one can invest up to a total allowance of £7,200 in a stocks and shares ISA. You can invest in both types of ISAs, with a cash limit of £3,600.

Lloyds TSB ISA: The Plans

Lloyds TSB ISA offers various plans in it cash and stocks and shares ISA options.

Cash ISA: Lloyds TSB’s cash ISA is a simple way to utilize your ISA allowances. You can save up to £3,600 in a tax year and you can withdraw the money at any time. You can set up the account with an opening deposit of £10. Lloyds TSB pays interests on an annual basis. The bank also offers a fixed rate ISA, with which one can get higher interest rates. An investors needs to commit a minimum of £3,000 for 12 month in this account and any withdrawal within the term will attract penalties.

Stocks and Shares ISA – The stocks and shares component of a Lloyds TSB ISA is an opportunity to enjoy the benefits of the stock markets without paying taxes. Lloyds TSB’s share dealing ISA helps an investor to keep track of investments. The company lets an investor deal online through the market hours and to monitor the investments anytime. The bank offers a range of investment options to suit the interests of both income and growth seeking investors. You can choose Lloyds TSB’s investment trusts and stock products if you are interested in growth. For income seeking investors, the company offers bonds and bond funds. The company also offers gilts for cautious investors.

Lloyds TSB ISA lets you to choose from 1000 funds if you want to diversify your investments. The company has many experienced fund managers who can help your funds grow. The bank also offers a nominee account with which you can manage any other investments with the bank, apart from your ISAs.


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Most Popular in ISA Individual Saving Account

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