Santander has issued a '£20 a month' alert to customers, sending emails this week promoting a new investment opportunity. The banking giant stated it has 'done the hard work for you' by offering a ready-made fund through an Investment (Stocks and Shares) ISA, designed for those short on time.
Investment Details
Customers can invest from as little as £20 a month or a £100 lump sum. In-house experts create and manage the funds, with Santander highlighting 'long-term growth potential for your money, held in a tax-efficient ISA.' However, the bank warns that 'your money can go down as well as up,' urging customers to consider risk levels carefully.
Risks and Alternatives
The emails advise that investments should only be made with money not needed for at least five years, and fees apply. Tax treatment depends on individual circumstances and may change. For those not interested in ready-made investing, Santander offers a wider range of other funds from across the market.
ISA Allowance
Customers can currently pay a total of £20,000 into an ISA this year without paying UK tax on profits or income from the investment, making it an attractive option for tax-efficient saving.
