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What is the difference between isas and nisas?

NISA is the new name for an ISA. It stands for "New ISA".

In 2014 the government changed the rules for ISAs to increase the contribution limits, and allow the full limit to be used in a cash isa.

The new name was announced to publicise the change, but the main benefits of NISAs are exactly the same as ISAs:

  • Tax benefits There is no tax to pay on income and gains
  • Putting money in The total NISA allowance for the {{currentTaxYear}} tax year is {{currentIsaAllowance}}. If you have already put money in a cash NISA this year then this counts towards this limit.
  • Getting money out The money can be withdrawn at any time, although NISAs are generally used for longer term investment (more than 5 years).
  • Risk and return We only offer stocks and shares NISAs. These will probably provide higher returns than cash NISAs in the long term, but there is a risk that you get back less than you put in. Our risk/return explorer can help work out if investing is for you.
  • Minimum investment The minimum investment is £{{minimumLumpSum}} or £{{minimumDirectDebitPerMonth}} per month.

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