Welcome to the ISA Savings Accounts page, ISA's are savings accounts on which the interest that you earn is not taxed by the tax man so you will be able to keep all of the interest that you earn. So if you have money that you wish to save or invest then an ISA is a very good option as there are several choices as to how you invest the money in the ISA.




So an ISA is tax free but there are limits as to how much you can invest per year and this varies with the different ISA's, for this reason they are better for people who want to make regular savings each year but not people who wish to make large investments. They are only limited annually though so you can invest to the limit each year and this can build up easily over the years.

There are several types of ISA which include the Cash, Mini and Maxi ISA's and they each have two components that you can invest in, the components are the cash component and the stocks and shares component. The cash component of an ISA invests the money in bank, building society and savings accounts and is best for shorter term savings as the interest is more steady. The stocks and shares component of an ISA invests in stocks and shares so the value of the investment can go up or down, this is better for long term investments as you have to ignore small fluctuations and over time the value will usually increase but it is more risky.

The reason that there are different types of ISA such as the Cash, Maxi and Mini ISA's is that they each have different investment rules, with a Maxi ISA you can invest in each of the two components up to the limit but with a Mini ISA you can only invest in one component. So it depends on what you need, a Mini ISA is fine for lots of people as they are more simple but if you want to invest in different areas then a Maxi ISA would be better. A Cash ISA is an ISA that allows access to the money that you are saving but some have restrictions so if you are looking to invest in an ISA but want easy access to the money you are saving then check about restrictions before you invest in an ISA.