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The benefit of receiving a higher rate on the accumulation of your tax-free ISA pot is staggering.
By making the most of your £20,000 per tax year allowance with CrowdProperty, you could become an ISA millionaire in just 21 years.
If you were to invest your £20,000 ISA allowance each year in CrowdProperty projects offering up to 8% per annum (and ensured those funds were fully utilised), even taking into account the average time between your pledge and project completion, you could accumulate over £1,000,000 within 21 years.
Even more remarkably, you’d only need to contribute £420,000 to your ISA and you would earn £619,000 of tax-free interest. This will leave you with an ISA pot of £1,039,000 which you can continue to invest and earn tax-free returns on. This could happen even quicker if you transfer in existing ISAs to your CrowdProperty ISA.
This is in stark comparison to a best-buy fixed cash ISA earning a sub-inflation 1.5%. It would take you 38 years to become an ISA millionaire at this rate, and you’d have to contribute £760,000 of that pot. It is very important to understand that peer-to-peer lending is not a savings product, your capital is at risk and is not FSCS protected.
Don’t just take our word for it, take a look at this Times article highlighting the poor, sub-inflation rates offered by high street cash ISAs - is it time to think about making your money work harder for you with the CrowdProperty ISA?
Take advantage of every penny of tax-free investment you are entitled to.
Learn more at: www.crowdproperty.com/ifisa
Peer-to-peer lending is not covered by the FSCS and capital is at risk. Tax rules are dependent on individual circumstances and are subject to change.