02 October 2009 / by Rebecca Sargent
TD Waterhouse has announced that it will be automatically extending the ISA limit for over 50s on its share dealing and regular investment ISA this month.
The increased ISA limit for over 50s comes into effect on October 6, and over 50s will be able to invest a total of £10,200 into an ISA, £5,100 of which may be in cash.
The changes will come into effect automatically at TD Waterhouse, and existing TD Waterhouse ISA customers aged 50 or above this tax year will be able to top-up their investment.
Commenting, Angus Rigby, CEO at TD Waterhouse said: “The increase in ISA limits comes at a crucial time for investors.
“As interest rates remain at record lows and returns on cash dwindle, we have seen the popularity of our ISA products continue to grow over the last few years.
“We fully expect customers to take advantage of their increased limit to maximise the benefits of this useful tax efficient investment product.”
According to Mr Rigby, a TD Waterhouse self select Trading ISA, or Regular Investment ISA can help investors to diversify their investment portfolios by holding a range of equities, unit trusts, gilts, bonds and OEICs.
The TD Waterhouse ISAs also come with the added incentive of waived annual administration charges on ISA investments of more than £3,600.
Find out more about the TD Waterhouse ISA »
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