You can save up to £20,000 each tax year into a Cash ISA. If you have other ISA accounts, like a Lifetime ISA or Stocks and Shares ISA, this £20,000 limit applies across all your accounts - including those you hold with different providers. So if you have saved £4,000 into your Lifetime ISA and £2,000 into a Stocks and Shares ISA this tax year already, that means you can only save up to £16,000 into any Cash ISA.

You can easily see how much of this year’s allowances you’ve used up on the home screen in the Tembo app under the “My Allowances” section. You’ll see your Lifetime ISA in green, and your Cash ISA in blue. Be aware, this doesn’t record what you have saved in other ISA accounts held with different providers.

🚨 If you withdraw funds from your Lifetime ISA or Cash ISA, and deposit those funds into a different ISA account, this could mean your money is counted twice towards your £20,000 ISA allowance for the tax year. This is because these accounts are not “flexible” ISAs, meaning you can’t withdraw and deposit the same funds within the same tax year without impacting your ISA allowance.

Tax treatment depends on individual circumstances and may be subject to change in the future. Must be 18-39 to open a LISA. Ineligible withdrawals may return less than paid in. Past performance is not a reliable indicator of future results, capital at risk.