Zopa announces Innovative Finance ISA details
Zopa has confirmed that it is prepared to launch its Innovative Finance ISA from the 6th of April, and will offer the same rates as on its standard products, with no additional fees or charges.
Zopa also announced that its IF ISA will be flexible, allowing customers to withdraw funds without impacting the annual limit.
Consumers will also be able to transfer their tax free savings allowance over to an Innovative Finance ISA.
Andrew Lawson, Chief Product Officer at Zopa, said:
"We anticipate a lot of interest in Zopa's Innovative Finance ISA when it launches from April. Many of our customers have long expressed an interest and desire to put their peer-to-peer lending into an ISA and enjoy the tax benefits. We also expect that the IF ISA will be further catalyst for driving awareness of the P2P sector, and help more UK consumers earn more interest from their money."
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