Leading cashback websites are offering big incentives to customers who are looking to open a new investment Isa before the end of the 2017/18 tax year on 5 April.
Quidco and TopCashback are offering incentives of up to £255 for customers who are looking to open a Junior Isa, Lifetime Isa or Stocks and Shares Isa with providers such as Fidelity, OneFamily, and Scottish Friendly.
In general, customers with bigger investments will be able to earn higher amounts in cashback, but there are offers available for all deposit sizes.
For example, you can earn £255 if you are able to invest £1,000 per month into a Scottish Friendly Stocks and Shares Isa through TopCashback, although you only need to pay in for one month before receiving the cashback. But you can also receive £42 for setting up a Lifetime Isa with OneFamily, regardless of the investment amount, also at TopCashback.
Do check the platform fees and fund choices before signing up to ensure you select an Isa that’s suitable for your needs. This year’s Isa allowance is £20,000 or £4,128 for Junior Isas.
However, go quick if you want to benefit from these offers as many of them are time limited.
Full details, plus links to read the terms and conditions of each offer, are listed below:
- Earn up to £225 cashback with Shepherds Friendly Stocks and Shares Isa – offer expires end of April.
- Earn up to £160 cashback with Shepherds Friendly Junior Isa - offer expires 25 March.
- Earn up to £250 cashback with Scottish Friendly Investment Isa – offer expires end of April.
- Get £40 cashback with OneFamily Stocks and Shares Lifetime Isa – ongoing offer.
- Get £80 cashback with Munnypot Stocks and Shares Isa – ongoing offer.
- Earn up to £255 when opening a Scottish Friendly Isa - offer expires 24 March.
- Earn up to £210 when opening a Shepherds Friendly Stocks and Shares Isa – ongoing offer.
- Get £126 cashback when opening a Fidelity Investment Isa - offer expires 24 March.
- Earn up to £115.50 when opening a Foresters Friendly Society Isa – ongoing offer.
- Earn up to £105 when opening a Wesleyan Stocks and Shares Isa – ongoing offer.
- Get £42 when opening a OneFamily Lifetime Isa – ongoing offer.
Adam Bullock, UK director of TopCashback, says: “Earning cashback when opening an Isa is a clever way to boost your balance, especially for those who don’t already have their full tax-free allowance. In some cases you can earn £255 cashback.
“The amount of cashback you get depends on how much you invest and whether you plan to make monthly contributions. For example, Scottish Friendly’s £255 cashback deal is the highest but you will need to commit to a monthly contribution of £1,000.
“However, you can get £90 cashback with a monthly direct debit of £50. On the other hand, Fidelity pays a fixed cashback amount (£126) on one-off investments of £5,000 or more.
“The terms and conditions are slightly different for each Isa provider. However, most will have a minimum amount of money which must be invested over a set amount of time to qualify for cashback. Ensuring all of those criteria have been met, cashback is usually paid within 90 to 120 days of opening and investing in an Isa.”
New to cashback? You can read more about making the most of your spending, and some of the potential pitfalls, by reading the Moneywise guide to cashback.