How many ISAs can I have?
Find out how many ISAs you can hold in the UK and understand the benefits and limitations when opening multiple accounts.
Key takeaways
: You can hold and open as many cash, stocks and shares or innovative finance ISAs as you like, subject to individual account restrictions
: While you can hold multiple accounts, deposits are limited to £20,000 per tax year for all ISAs held in your name
: You can only contribute to one Lifetime ISA (LISA), and children can only have one cash and one stocks and shares Junior ISA
The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.
Individual savings accounts (ISAs) offer a tax-efficient wrapper around your savings, so could it benefit you to have more than one? How much can you deposit in your ISAs? And what rules do you need to know about the different types of account? In this article, we answer questions like “how many ISAs can I have at once?”, and explore the reasons why some savers and investors open more than one.
How many ISAs can I have in the UK?
You can have as many stocks and shares, cash or innovative finance ISAs as you like in the UK, though there may be individual account restrictions. For example, you may not be able to open more than one ISA with a provider during the same tax year. You may only contribute to one Lifetime ISA (LISA) each tax year, though you can have multiple accounts. For Junior ISAs (JISAs), children may only have one stocks and shares JISA and one cash JISA.
Cash ISA | Unlimited, subject to account terms and conditions |
Stocks and shares ISA | Unlimited, subject to account terms and conditions |
Innovative finance ISA | Unlimited, subject to account terms and conditions |
Lifetime ISA | Unlimited, but you can only pay into one LISA per tax year |
Junior ISA | 1 stocks and shares ISA, 1 cash ISA |
While you can hold and open multiple ISAs, there are deposit restrictions in place.
How much can I deposit into my ISAs?
There is an annual ISA allowance of £20,000 per person each tax year. This allowance applies to all stocks and shares, cash, innovative finance and Lifetime ISAs in your name. It’s your responsibility to make sure total ISA contributions don’t exceed £20,000 in a single tax year.
JISAs are excluded from the £20,000 annual allowance, so children or parents can save £9,000 total across a stocks and shares and cash JISA.
Different types of ISA have their own annual contribution limits, which form part of your £20,000 annual allowance:
ISA type | Annual allowance |
Stocks and shares ISA | £20,000 (no other ISA contributions can be made if the full annual allowance is placed into a stocks and shares ISA) |
Cash ISA | £20,000, set to drop to £12,000 in the 2027/28 tax year for savers under 65 |
Innovative finance ISA | £20,000 (no other ISA contributions can be made if the full annual allowance is placed into an innovative finance ISA) |
LISA | £4,000 |
JISA | £9,000 in addition to £20,000 annual allowance for adult ISAs |
Please note: For both stocks and shares and innovative finance ISAs, your capital is at risk and the value of your investments can go down as well as up. Innovative finance ISAs are generally not protected by the Financial Services Compensation Scheme (FSCS).
As long as you don’t exceed annual allowances, you can save and invest in any combination you like across ISA accounts. Here are some examples of different annual ISA contributions that take full advantage of the tax-free allowance:
Example 1:
- £10,000 stocks and shares ISA
- £6,000 cash ISA
- £4,000 cash LISA
Example 2:
- £1,000 stocks and shares ISA
- £1,000 innovative finance ISA
- £10,000 cash ISA
- £2,000 additional cash ISA
- £9,000 cash JISA
Example 3:
- £14,000 cash ISA
- £2,000 additional cash ISA
- £4,000 cash LISA
Example 4:
- £15,000 stocks and shares ISA
- £1,500 innovative finance ISA
- £2,000 stocks and shares LISA
- £5,000 stocks and shares JISA
These are illustrative examples only, and there are many different ways you can save across your ISAs within the annual allowances.
In the 2027/28 tax year, the cash ISA allowance is currently due to be reduced to £12,000 for those under 65 years of age, but the overall allowance of £20,000 will stay the same. This means affected savers can save a maximum of £12,000 into a cash ISA, but could still save another £8,000 tax free across stocks and shares, innovative finance and Lifetime ISAs.
Is it worth having multiple ISAs?
Different ISAs can help you meet different financial goals. For example, most easy access cash ISAs will allow you to withdraw your savings at any time (although you should refer to the account’s terms and conditions for full details). If you have a sum that you don’t need access to in the near future, a fixed rate cash ISA might be an option and it could offer higher rates. However, bear in mind that the purchasing power of cash savings may decrease over time due to inflation. Alternatively, you may choose to invest with a stocks and shares ISA.
These ISAs are used for investing, which means the value can go up or down. They may suit people who are investing for the longer term and understand the risks involved.
Even within the same ISA category, providers offer different rates, terms and features. As a result, some savers choose to hold more than one ISA to manage access, timing or diversification. The right approach depends on your financial circumstances and goals.
Raisin UK does not currently offer ISA products, but we're launching our own multi-bank Cash ISA soon. Find out more and join the waitlist here. You can also explore a range of savings accounts to suit your personal goals. Deposits are protected up to £120,000 per bank and per depositor under the statutory Financial Services Compensation Scheme (FSCS).
Frequently Asked Questions: How many ISAs can I have?
Are there limits on how many stocks and shares ISAs I can hold?
There are no set limits on the number of stocks and shares ISAs you can contribute to, though individual accounts may come with their own limits. For example, you may not be able to open multiple ISAs with the same provider in the same tax year. You can also have a mix of stocks and shares and cash ISAs.
Are there limits on how many cash ISAs I can hold?
There is no overall limit on the number of cash ISAs you can hold, though there may be restrictions tied to individual accounts and providers. These often limit the number of accounts you can open with a provider within the same tax year. You can also have a mix of cash and stocks and shares ISAs.
Can I deposit £20,000 into each ISA I have?
£20,000 is the annual allowance for all ISAs in your name, so it must be split across all of them. This means you can deposit a maximum of £20,000 into ISA products in any given tax year if you want to benefit from tax-free savings.
How does the annual ISA allowance work if I have multiple ISAs?
The annual ISA allowance is split across all your ISAs. This means the £20,000 allowance can be used across multiple ISAs, but can’t be exceeded if you want your savings to remain tax efficient.
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All interest rates displayed are Annual Equivalent Rates (AER), unless otherwise explicitly indicated. The AER illustrates what the interest rate would be if interest was paid and compounded once a year. This allows individuals to compare more easily what return they can expect from their savings over time.
Raisin UK is a trading name of Raisin Platforms Limited which is authorised and regulated by the Financial Conduct Authority (FRNs 813894 and 978619). Raisin Platforms Limited is registered in England and Wales, No 11075085. Registered office: Cobden House, 12-16 Mosley Street, Manchester M2 3AQ, United Kingdom. The information on this website does not constitute financial advice, always do your own research to ensure it's right for your specific circumstances. Tax treatment depends on the individual circumstances of each customer and may be subject to change in the future.