Which IFISAs are still accepting money for the 2021/22 tax year?
The end of the financial year is fast approaching, which means that time is running out for savers and investors to take full advantage of the 2021/22 ISA allowance.
Taxpayers can place up to £20,000 into their ISA accounts each financial year. That money can be spread across a range of ISA offerings, including cash ISAs, stocks and shares ISAs, lifetime ISAs and – of course – the Innovative Finance ISA (IFISA).
But two years of Covid disruption has changed the IFISA landscape, with some high profile departures (Funding Circle, Zopa) and a few interesting new entrants (Lendwise, Cyan).
Read more: What does the future hold for Funding Circle?
In the current financial year, there are 39 IFISA providers still accepting investor money. These range from bond offerings, to business loans, to property-backed loans, and consumer credit. You can see a full list of these IFISA providers here.
Each IFISA provider has its own minimum investment threshold, which means that not every IFISA will be available to every investor.
If you have £100 to invest…
There are 20 platforms currently open to accepting new IFISA money for £100 or less. Abundance Investment, ArchOver, and Assetz Exchange all have a minimum investment threshold of just £1, while Assetz Capital and Ablrate have £5 minimum.
Unbolted, Loanpad and Rebuildingsociety offer IFISA access for as little as £10, while Share Credit, Ethex, and Leap Lending have a minimum investment of £50.
Nine platforms allow investors to add as little as £100 to fund their IFISA-wrapped products. These are: Triodos Bank, Crowd for Angels, Crowd2Fund, Crowdstacker, Cyan Finance, Elfin Market, EasyMoney, JustUs, and Invest and Fund.
If you have £1,000 to invest…
There are 15 platforms which have a minimum investment threshold of £1,000 or less for their IFISA products.
Property lenders Kuflink, CrowdProperty, Downing Crowd, Relendex and Simple Crowdfunding all ask for a minimum investment of £500.
Meanwhile, 10 platforms have a £1,000 threshold. These are: Tifosy, Money&Co (as Bramdean Asset Management), Money&Co (as Denmark Square), Fund Ourselves, Carlton Bonds, LandlordInvest, Lendwise, Proplend, Triple Point Income Service, and Sourced Capital.
If you have £20,000 to invest…
On the higher end of the scale, four platforms request a minimum IFISA commitment of between £5,000 and £20,000.
Shojin Property Partners has a £5,000 IFISA minimum, while HNW Lending and Rockpool Investments require a minimum investment of £10,000. Folk2Folk is the only platform which requires the full £20,000 to be paid into its property-backed IFISA.
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