RateSetter to launch Innovative Finance ISA in April

RateSetter to launch Innovative Finance ISA in April




RateSetter has published details of its tax-free Innovative Finance ISA which it plans to launch in April..

 RateSetter has published details of its tax-free Innovative Finance ISA which it plans to launch in April.


Investors will be able to choose from four products and terms ranging from one-month to five-years.

The peer-to-peer lending platform will allow investors to accept the interest rate set in the markets or choose to set their own.

On its website, RateSetter said: “We’ve had strong interest from both existing and new investors so it’s great to be able to start to reveal the detail of the product.

“We’ll have more details over the coming weeks as we get closer to the launch.”

The product will be available to new and existing RateSetter customers and the standard ISA allowance of £15,240 per tax year will apply.

The ISA will not be protected by the Financial Services Compensation scheme, but like other RateSetter investments, it will be protected by a provision fund.
 

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