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Savings & Investments glossary

Maxi ISA

The old distinction between mini and maxi ISAs from April 2008 was brushed aside.

Instead of the old system, a simplified ISA regime means you can invest up to £7,200 a year in total.

A maximum of £3,600 can be invested in cash ISA, and a maximum of £7,200 can be invested in stocks and shares ISAs a year.

Maxi ISAs followed much the same pattern - with savers able to opt for smaller cash ISAs - for example £1,000 - and larger stock and shares ISAs - in this case up to £6,200.

Investors can gain access to shares in more than 40 stock exchanges across the globe, money market funds, insurance products, shares OEICs, investment trusts, unit trusts, corporate bonds and gilts, and even real estate investment trusts (Reits).

Additionally, while only £7,200 a year can be placed in an ISA, the entire balance of the ISA (i.e. the accumulated savings of several years) can be transferred into another ISA if needed - allowing you to move your ISA investments to get the best returns.


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