Are you confused by the different types of ISAs available?

Would you like to know more about how to choose the right ISA for you?

This Guide to ISAs takes a look at the basics from how to get started, to the different types of ISAs available, what to consider when choosing an ISA and more.  Plus there are easy references to additional - ISA resources so you can learn more about what ISAs are and how they work.

What is an ISA?

An ISA (Individual Savings Account) is simply a type of savings account where you don’t pay tax on the interest earned.  They do come with one restriction and that is the amount of money you can save in an ISA in a single tax year.


Getting started with ISA Basics

At first glance they can seem complex and confusing, but they don’t have to be.  Find out more about how they work, why you should consider opening one, how much you can save and the answers to some other frequently asked questions

What types of ISAs are available?

Like standard savings accounts there are several types of ISAs available.  But what are the most common types, who are they for and what do they offer?

  • The new Lifetime ISA (LISA) 
    Here is a starter blog that explains what a Lifetime ISA is and how it could help your long-term savings for your first home or retirement.
  • New ISAs (NISAs)
    What is a NISA?  Is it the same as an ISA?  Find out about the introduction of NISAs.

Savings options – to save or invest?

How comfortable are you with risk?  If you feel OK about balancing risk with the opportunity for growth, investing in a Stocks and Shares ISA could be for you.  But if you don’t like this idea, you might prefer to save in a Cash ISA instead.

  • Is it time to take stock?
    A closer look at the pros and cons of investing directly in shares, and why funds may provide a comfortable alternative.

Which ISA is best for you?

Choosing the right ISA for you will depend on your own individual circumstances and saving goals. In this section, we have included some considerations that could help you make the right choice.

  • Which ISA is right for me
    Like standard savings accounts, there are several types of ISAs on the market today.  This guide takes a closer look at the different types along with the questions to consider when choosing the right ISA for you.

ISA information for First Time Buyers


Friendly Society ISA savings

Foresters Friendly Society has offered straightforward financial plans for over 180 years and are backed by excellent customer service. Find out more about tax-free saving with a Friendly Society.


Please note: Tax rules may change and depend on individual circumstances.You should be aware that you may not get back what you pay into a Stocks & Shares ISA dependent on the investment term and investment conditions on withdrawal. The content of this article is for information purposes only and does not constitute financial advice. We do not offer financial advice.  If you're unsure as to the suitability of a product you should seek advice from a Financial Adviser. You may have to pay for this advice.