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What is the Innovative Finance ISA (IFISA)?

The IFISA is a tax-free wrapper that allows UK investors to lend money through Financial Conduct Authority-authorised peer-to-peer lending platforms. They can receive interest and capital gains tax free, up to the current annual ISA limit of £20,000.

The product was first announced by then-Chancellor George Osborne in 2015. Consumers can invest in a cash ISA, a stocks and shares ISA or an IFISA, or a combination of the three.

IFISA providerType of loansMinimum investmentTarget rate of return
AblrateBusiness£19-15 per cent
Abundance InvestmentGreen energyDepends on project fundedDepends on projects backed (2 per cent on cash)
ArchOverBusiness£1,000Up to 10 per cent
Assetz CapitalBusiness, property £13.75 to 4.1 per cent on auto-invest accounts, variable with manual lending
Assetz ExchangeProperty£15 to 5.5 per cent
CapitalRise Prime property£1,000Up to 14 per cent
Carlton BondsProperty bonds£1,0004.75 to 7.75 per cent
Crowd2Fund Business£1006 to 15 per cent
CrowdforAngelsCrowd bonds£100Up to 7 per cent
CrowdProperty Property £500 7 to 8 per cent
Crowdstacker Secured business £1004 to 12 per cent
Cyan FinanceSustainable bonds£1003.5 per cent
Downing CrowdCrowd bonds £5002.25 to 7 per cent
EasyMoney Property£100 3.08 to 6.01 per cent
Elfin MarketConsumer credit£1003.8 to 5.8 per cent
Folk2Folk Local and rural businesses £20,000 6.5 per cent
Fund OurselvesShort-term loans £1,000 Up to 15 per cent
HNW Lending Secured by valuable assets £10,000 6 to 12 per cent
Invest and FundProperty development £1007 per cent
JustUsProperty£1008 per cent
Kuflink Property £100 5 to 7 per cent
LandlordInvest Buy-to-let and bridging £1,0005 to 12 per cent
Leap LendingConsumer £50Up to 5 per cent
Lendahand Ethex – Energise Africa Solar projects in Sub-Saharan Africa £50 4 to 6 per cent
LendwiseStudent loans£1,0009 per cent
LoanpadProperty £10 3 to 4 per cent
Money&Co Business £1,0007 per cent
ProplendProperty £1,000 5 to 12 per cent
Rebuildingsociety Business £10Over 6.6 per cent
Relendex Property £500 for self-select, £2,500 for secured portfolio6.5 to 7.5 per cent
Rockpool InvestmentsBusiness£10,0009 to 10 per cent
Share CreditBusiness£10Up to 16 per cent
Shojin Property PartnersProperty£5,00010 to 15 per cent
Simple CrowdfundingProperty development£5008 per cent
Sourced CapitalProperty development loans£1,00010 per cent
Triodos BankCrowd bonds£504 to 7 per cent
Triple Point Income ServiceBusiness£1,0004.5 to 5.5 per cent
TifosySports£500Up to 8 per cent
UnboltedPawnbroking£5Up to 10 per cent