
Compare 5-year fixed rate cash ISAs
Find all you need to know about 5-year fixed-rate cash ISAs and scan live rates.
Read more…An ISA (individual savings account) is a great way to save your money in a tax-free savings account. Across the different types of ISAs, adults (18+) have a tax-free allowance of £20,000, while junior ISAs now have an allowance of £9,000.
We’ve looked into the latest stocks and shares ISA statistics to see how the UK is utilising these tax-free accounts.
An ISA (individual savings account) is the most popular type of savings account, thanks to its tax-free benefits. But how many Brits are taking advantage of these tax-free savings accounts, whether in the form of a cash ISA or a stocks and shares ISA?
If you’re not familiar with stocks and shares ISAs, they’re savings accounts that allow you to invest in stocks and shares, usually based on the level of risk that you are comfortable with. If you want to know more, we’ve compiled a list of the best trading apps to help you decide which is best for you.
Cash ISAs have become less popular over the years from 2015 to 2021, while stocks and shares ISAs have become more popular. Read on to find out more about the changes in adult ISAs in the UK.
In 2021, the number of adult ISA accounts have decreased to 11.55 million – this is 880,000 less than in 2020. There are over 8.05 million cash ISAs, which is 1.65 million less than in 2020. However, stocks and share ISAs have increased from 2021 to 3.5 million – this is 770,000 more than in 2021
Year | Cash ISAs | Stocks and shares ISAs |
---|---|---|
2015/2016 | 10.12 million | 2.54 million |
2016/2017 | 8.48 million | 2.59 million |
2017/2018 | 7.78 million | 2.84 million |
2018/2019 | 8.48 million | 2.42 million |
2019/2020 | 9.70 million | 2.73 million |
2020-2021 | 8.05 million | 3.5 million |
In 2020/2021, the total amount subscribed to cash ISAs was £37 billion – this is £12 billion less than in 2019/2020.
In 2020/2021, the total amount subscribed to stocks and share ISAs was £34 billion – this is £10 billion more than in 2019/2020.
null | Cash ISAs | Stocks and shares ISAs |
---|---|---|
2015/2016 | £59 billion | £21 billion |
2016/2017 | £39 billion | £22 billion |
2017/2018 | £40 billion | £28 billion |
2018/2019 | £44 billion | £23 billion |
2019/2020 | £49 billion | £24 billion |
2020/2021 | £37 billion | £34 billion |
In the year 2020 to 2021, the average subscription per account for cash ISAs is £9,432 and for stocks and shares ISAs is £4,568.
Year | Cash ISAs | Stocks and shares ISAs |
---|---|---|
2015/2016 | £5,801 | £8,322 |
2016/2017 | £4,622 | £8,623 |
2017/2018 | £5,228 | £9,685 |
2018/2019 | £5,187 | £9,331 |
2019/2020 | £5,024 | £8,875 |
2020/2021 | £4,568 | £9,432 |
A junior cash ISA is a tax-free long-term savings account for under-18s in the UK. The current savings limit for the 2021/2022 year is £9,000.
By 2021, the number of Junior ISA accounts subscribed grew to 943,000, from 706,00 in 2020, representing an increase of 34% in the year. From this, 668,000 were cash ISA accounts and 275,000 were stocks and shares ISA accounts.
Year | Cash ISAs | Stocks and shares ISAs |
---|---|---|
2015/2016 | 497,000 | 241,000 |
2016/2017 | 569,000 | 225,000 |
2017/2018 | 636,000 | 271,000 |
2018/2019 | 668,000 | 286,000 |
2019/2020 | 706,000 | 317,000 |
2020/2021 | 668,000 | 275,000 |
The total amount subscribed to junior ISAs in 2020/2021 reached over £1 billion (£1.068 billion), this is £97 million in 2019/2020.
The total amount in stocks and shares ISAs increased £84 million in a single year, where Cash ISAs increased by £13 million. Junior cash ISAs hold 57% of total junior ISAs, with stocks and shares making up the remaining 43%.
Year | Cash ISAs | Stocks and shares ISAs |
---|---|---|
2015/2016 | £522 million | £399 million |
2016/2017 | £525 million | £333 million |
2017/2018 | £517 milllion | £385 million |
2018/2019 | £555 million | £419 million |
2019/20 | £597 million | £374 million |
2020/2021 | £610 million | £458 million |
Interestingly, the average amount invested in junior stocks and shares ISAs is more than junior cash ISAs. The average amount invested into a stocks and shares ISA was £1,665 in 2021 – this is 82% more than the average amount invested into a junior cash ISA (£913). Explore the graph below to find out more.
2015/2016 | £5,801 | £8,322 |
---|---|---|
2016/2017 | £4,622 | £8,623 |
2017/2018 | £5,228 | £9,685 |
2018/2019 | £5,187 | £9,331 |
2019/2020 | £5,024 | £8,875 |
Find all you need to know about 5-year fixed-rate cash ISAs and scan live rates.
Read more…Find all you need to know about 3-year fixed-rate cash ISAs and scan live rates.
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