If you’ve used up your ISA allowance, a General Investment Account (GIA) could be the best option for you. Here are the best ones.
A General Investment Account (GIA) is an investment account that’s usually best for those who have already made use of their ISA allowance for the year — if you haven’t, you probably want to see the best Stocks & Shares ISAs instead, as these have a £20,000 annual allowance in which you don’t need to pay tax.
Here are the best General Investment Accounts available to invest with at the moment.
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Here at Be Clever With Your Cash, we’re not regulated to give you financial advice. We aim to give you the facts about a provider or investment but it’s up to you to decide if it’s suitable for you. If you’re looking for more personalised guidance, find a financial adviser who can give you specific advice. Remember that your capital is at risk when investing — don’t invest more than you are prepared to lose.
DIY GIAs
Top picks
Customer rating
4.9/5
- Annual fee0.25% (max £250 per year)
- Trading fee£0
- Minimum deposit£1
- Trading fee £0
- Investments available You can create your portfolio by selecting themed collections. These include: Automation and robotics, Blockchain creators, Clean energy, Healthcare innovation, Metaverse, Tech focused, American companies, British companies, Emerging markets, European companies and Global companies. Or keep it simple with ready-made funds.
- Interest on uninvested cash No
- Fractional shares No
- Foreign exchange fee N/A
- Fee information If you invest in funds, you'll have to pay fund fees depending on the funds you choose. Management fees are dependent on what you invest in. See full fees breakdown on monzo.com/help/investments/investments-fees
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 730427
- FSCS Protected? Your eligible investments are protected by the FSCS up to £85,000 per person per firm. This doesn’t cover losses incurred due to investment performance.
- Risk warning You could get back less than you invest
- Eligibility You need a Monzo current account to use Investments. UK residents 18+. Ts&Cs apply.
Our top pick
InvestEngine General Investment Account
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£100
- Important details You can't invest in individual shares with InvestEngine, just exchange-traded funds (ETFs)
- FSCS Protected? Yes
- Interest on uninvested cash No
- Fund fees When you invest in funds you'll also have to pay fund fees between 0.03% and 0.89%, depending on which ones you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 801128
- Risk warning Capital at risk. The value of investments can go down as well as up
Our top pick
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£1
- OfferFree fractional share up to £100*
- FSCS Protected? Yes
- Fractional shares Yes
- Interest on uninvested cash 3.8%
- Foreign exchange fee 0.15%
- Fund fees If you invest in ETFs, you'll have to pay fund fees depending on the funds you choose
- Offer details To get the offer, you need to open a Trading 212 Stocks and Shares ISA or Invest account and deposit at least £1 within 10 calendar days
- Offer New customers get a free fractional share worth up to £100 when you sign up via our link or use the code BCWYC
- Important details Remember, the value of any money invested, which includes your free share, could go up or down
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 609146
- Risk warning Capital at risk. The value of investments can go down as well as up
Other options
Customer rating
4.6/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£0
- OfferChoose a free share*
- FSCS Protected? Yes
- Fractional shares Yes
- Interest on uninvested cash 4.50%
- Foreign exchange fee 0.50%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 522157
- Risk warning Capital at risk. The value of your investments may go up or down
- Offer details New XTB customers can get a free share of their choice (choose from Tesco, BP, Glencore, Barclays, Rolls‑Royce Holdings). You need to be a new XTB customer, open a General Investment account and make a deposit to get the offer
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£0
- Offerup to £300 in free shares*
- FSCS Protected? Yes
- Interest on uninvested cash 3.75% usually
- Fractional shares No
- Foreign exchange fee 0.70%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 944492
- Risk warning Capital at risk. The value of investments can go down as well as up
- Offer Invest a minimum of £300 and get up to £300 in free shares. T&Cs apply. Other fees may apply.
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£1
- FSCS Protected? Yes
- Interest on uninvested cash 1% on up to £1,000
- Fractional shares Yes
- Foreign exchange fee 0.99%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 783189
- Risk warning Capital at risk. The value of your investments may go up or down
Managed GIAs
Top picks
Customer rating
4.9/5
- Annual fee0.25% (max £250 per year)
- Portfolios available3 risk-based portfolios
- Minimum deposit£1
- FSCS Protected? Your eligible investments are protected by the FSCS up to £85,000 per person per firm. This doesn’t cover losses incurred due to investment performance.
- Interest on uninvested cash No
- Fee information You'll also have to pay fund fees of 0.14%. Management fees are dependent on what you invest in. See full fees breakdown on monzo.com/help/investments/investments-fees
- Other investment options You could alternatively choose to create your own portfolio.
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 730427
- Risk warning You could get back less than you invest.
- Eligibility You need a Monzo current account to use Investments. UK residents 18+. Ts&Cs apply.
Our top pick
AJ Bell Dodl General Investment Account
Customer rating
4.7/5
- Annual fee0.15% (minimum £1 per month)
- Portfolios available6 risk-based portfolios and a responsible investments portfolio
- Minimum deposit£100 or £25 per month
- FSCS Protected? Yes
- Other investment options You can also invest in individual shares and themed investments
- Interest on uninvested cash 3.8%
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 211468
- Risk warning Capital at risk. The value of your investments may go up or down
Other options
Chip General Investment Account
Customer rating
4.9/5
- Annual fee0.25%
- Portfolios available3 risk-based portfolios and two index funds
- Minimum deposit£1
- FSCS Protected? Yes
- Interest on uninvested cash No
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 911255
- Risk warning Capital at risk. The value of your investments may go up or down.
Customer rating
4.9/5
- Annual fee0.25% (max £250 per year)
- Portfolios available3 risk-based portfolios
- Minimum deposit£1
- FSCS Protected? Your eligible investments are protected by the FSCS up to £85,000 per person per firm. This doesn’t cover losses incurred due to investment performance.
- Interest on uninvested cash No
- Fee information You'll also have to pay fund fees of 0.14%. Management fees are dependent on what you invest in. See full fees breakdown on monzo.com/help/investments/investments-fees
- Other investment options You could alternatively choose to create your own portfolio.
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 730427
- Risk warning You could get back less than you invest.
- Eligibility You need a Monzo current account to use Investments. UK residents 18+. Ts&Cs apply.
Customer rating
4.4/5
- Annual fee0.45%
- Portfolios available4 risk-based portfolios
- Minimum deposit£100 or £25 per month
- FSCS Protected? Yes
- Fees Fees are reduced the more you invest. You're charged 0.45% on up to £250,000, 0.25% on the next £750,000, and 0.1% on the next £1,000,000. For amounts over £2m there is no charge
- Interest on uninvested cash 2.53%
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 115248
- Risk warning Capital at risk. The value of your investments may go up or down
What’s the difference between Managed GIAs and DIY GIAs?
A managed General Investment Account is one where you choose what goes into your portfolio yourself. This can be shares, a range of different funds or even commodities or metals. Your portfolio is up to you to manage yourself. Meanwhile, a managed portfolio is one that’s been built already – you’d usually get a choice from several portfolios that you choose based on your risk appetite.
Should I choose a GIA or ISA?
An ISA would ideally be your first choice when you invest, as you get an annual £20,000 tax-free allowance; however, this is shared with any Cash ISAs and Lifetime ISAs you’ve got. With a GIA, you’d only invest tax-free when your earnings are within the Capital Gains Tax allowance of £3,000. There’s also a dividend allowance of £500, so you can earn £500 in dividends before you
This doesn’t mean that you shouldn’t use a GIA, but you’re best making sure you’ve fully used your ISA allowance across savings and investments and invest in an ISA after this. This will reduce the amount of tax you’ll have to pay on your profits.
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