These are the best apps for helping you to open ISAs before April 4


Let the apps take the strain

The deadline to open an Isa and take advantage of up to £20,000 tax-free savings is April 5.

Your allowance can be divided between cash and investments and it’s also possible to pay up to £9,000 into a Junior Isa for a child.

Any individual over 18 can open one stocks and shares and one cash Isa per tax year and a range of apps are available to make the process simpler.

Moneybox

Moneybox

This multi award-winning best buy Isa app tracks thousands of global companies such as Google, Apple and Netflix via its simple tracker funds. It offers a stocks and shares Isa and Junior Isa as well as cash and investment Lifetime Isas, which can all be set up with just £1.

There are 24 funds available and customers can choose to have a managed portfolio or build their own. The managed options allow customers to choose between cautious, balanced and adventurous investments.

The annual fund costs vary from 0.12-0.58% and there is also a 0.45% monthly platform fee, on top of a £1 monthly subscription charge.

The cash Lifetime Isa offers an interest rate of 0.85% and a fixed one year bonus interest rate of 0.6%.

Meanwhile the Junior Isa, which is opened via a separate app has a fund provider fee of 0.13-0.25% plus the 0.45% monthly platform fee and £1 monthly subscription cost.

Plum

Plum

This app is particularly user-friendly with a clear, simple interface. It offers just a stocks and shares Isa and there are 12 fund options. These all contain a mixture of shares and bonds from thousands of different companies.

The funds either focus on a certain sector or index against a particular stock market such as the S&P 500 or FTSE 100.

Each fund has a clear name, risk level rating and average fund return rate. For example the Tech Giants fund has the highest risk of 6/7 and an average return of 20.76% while the lowest risk level is the Slow & Steady fund with an average return of 3.04%.

Customers can also choose a fund that focuses on European Essentials or Rising Stars in Asia and Africa.

Minimum investment is £1 and the average fund management and platform fee is a total of 0.48%. There is also a £1 monthly subscription charge.

Nutmeg

Nutmeg

This Nutmeg app has a broad range of Isa products including a stocks and shares Isa, Lifetime Isa and Junior Isa for a minimum investment of £500.

There are four portfolio choices and the investment, Junior and Lifetime ISAs have varying charges ranging from £144-£228 per annum.

These include the Nutmeg fees, fund costs and market spread.

The portfolios each have a different focus and level of management including fully managed, smart alpha, socially responsible and fixed allocation. Depending on the portfolio there are five to ten risk levels.

Hargreaves Lansdown

Hargreaves Lansdown

This award-winning FTSE 100 company offers a stocks and shares Isa, Lifetime Isa and Junior Isa.

It has access to 3,000 funds and promises the annual charge for holding investment will never be more than 0.45%.

Dealing and other charges vary depending on the investment so it can be difficult to predict these costs from the outset. But as a ballpark, an investment of £15,000 in funds and £5,000 shares would accrue an account charge of £7.50 a month.

There are two investment options — do it yourself or ready-made portfolios. DIY gives access to more than 2,500 funds, shares and investment trusts and has a minimum investment of £100 or £25 per month.

The ready-made portfolio matches investments based on your attitude to risk but requires a minimum investment of £1,000.

Wealthify

Best apps for Isas

Wealthify

The Wealthify app offers a stocks and shares Isa and Junior Isa, which both have the same charges. It is possible to transfer a cash Isa into both of these.

Just two investment themes are offered — original and ethical and both offer risk levels from one to five. These are invested in a diverse mix of fund types (cash, shares, government bonds, corporate bonds) and countries.

The platform charges an annual fee of 0.6% for managing investments. Additional charges are around 0.16% for original plans and 0.7% for ethical.

There is a handy calculator on the app, which works out what a customer will pay each month depending on what they have invested and where. For example, £1,000 in an original fund will cost 63p a month in charges compared to £1.08 in an ethical fund.

The app also has a great function, which visualises the projected fund value and the best and worst-case scenarios for your money.

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MORE : How to pick the right ISA for you, without stress and confusion


MORE : Why it might be time to ditch cash ISAs





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