Loan interest is paid to your Proplend IFISA account on the designated monthly payment date for each loan. This means you can establish a predictable stream of fixed income credited throughout the month
Your loan interest will continue to accumulate in your IFISA account for reinvestment unless you request regular interest drawdown to your personal bank account. If you indicate that you’d prefer drawdown, we’ll automatically action this. You can change this preference at any time within the ‘Banking’ section of your Proplend dashboard.
All IFISA loan investment income is paid direct to your Proplend account. Income is paid ‘gross’, without any tax deducted and there will be no need to include your ISA income on your annual tax return. We will however provide you with an annual ISA statement for your records, with a full transaction history available when logging into your Proplend account. We are not authorised to offer Lenders tax or investment advice.
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