Zopa also announced that its IF ISA will be flexible, allowing customers to withdraw funds without impacting the annual limit.
Consumers will also be able to transfer their tax free savings allowance over to an Innovative Finance ISA.
Andrew Lawson, Chief Product Officer at Zopa, said:
"We anticipate a lot of interest in Zopa's Innovative Finance ISA when it launches from April. Many of our customers have long expressed an interest and desire to put their peer-to-peer lending into an ISA and enjoy the tax benefits. We also expect that the IF ISA will be further catalyst for driving awareness of the P2P sector, and help more UK consumers earn more interest from their money."
