How Much do UK Consumers Know About ISAs?
With the ISA deadline fast approaching, The House Crowd recently surveyed 2,000 UK consumers about their savings goals and their awareness of different ISA products currently on the market.
Here are a few of the key findings:
How much money do you plan to save in the next 12 months?
Amount | Total | 18-24 | 25-34 | 35-44 | 45-54 | 55-64 | 65+ |
£0 | 14 % | 7 % | 9 % | 14 % | 17 % | 22 % | 17 % |
£0 – £500 | 23 % | 27 % | 24 % | 19 % | 27 % | 21 % | 22 % |
£500 – £1,000 | 20 % | 29 % | 17 % | 23 % | 19 % | 19 % | 16 % |
£1,000 – £5,000 | 26 % | 18 % | 25 % | 30 % | 24 % | 28 % | 29 % |
£5,000 – £20,000 | 14 % | 16 % | 21 % | 13 % | 12 % | 9 % | 14 % |
£20,000+ | 2 % | 4 % | 4 % | 2 % | 1 % | 2 % | 1 % |
Average | £3,257.40 | £3,631.10 | £4,382.70 | £3,164.00 | £2,740.10 | £2,519.30 | £3,014.60 |
Do you know what an ISA is?
Answer | Total | 18-24 | 25-34 | 35-44 | 45-54 | 55-64 | 65+ |
Yes
|
85% | 76 % | 83 % | 81 % | 85 % | 93 % | 94 % |
No | 15% | 24 % | 17 % | 19 % | 15 % | 7 % | 6 % |
Do you know what an IFISA is?
Answer | Total | 18-24 | 25-34 | 35-44 | 45-54 | 55-64 | 65+ |
Yes | 13% | 17 % | 21 % | 13 % | 7 % | 9 % | 11 % |
No | 87% | 83 % | 79 % | 87 % | 93 % | 91 % | 89 % |
Do you know when the ISA investment deadline is?
Answer | Total | 18-24 | 25-34 | 35-44 | 45-54 | 55-64 | 65+ |
Yes | 38% | 33 % | 33 % | 37 % | 37 % | 45 % | 45 % |
No | 62% | 67 % | 67 % | 63 % | 63 % | 55 % | 55 % |
Do you know the difference between a Cash ISA, Stocks and Shares ISA, and an Innovative Finance ISA?
Answer | Total | 18-24 | 25-34 | 35-44 | 45-54 | 55-64 | 65+ |
Yes | 31% | 34 % | 34 % | 28 % | 21 % | 33 % | 37 % |
No | 69% | 66 % | 66 % | 72 % | 79 % | 67 % | 63 % |
To request the full data, please contact [email protected]
Still looking for the right ISA option for you?
Learn more about The House Crowd’s Innovative Finance ISA.
*Capital at risk and rates are not guaranteed. Please read our important information page and risk warning before investing.