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Our ISA Guide
In this section our ISA Guide introduces you to ISAs and provides information on how they work, what to look for and how to make the most of your allowance.
WHAT ARE ISAs?
ISA stands for Individual Savings Account. These were launched by the Government in April 1999 to encourage people to save and invest. They are designed to help the value of your money grow over time and/or provide an income.
You have to be 18 (16 for Cash ISAs) and a UK resident to be eligible for an ISA.
There are two types of ISA, a cash ISA and a Stocks and Shares ISA. The government have now increased the amount you can invest in an ISA. Overall you now have an allowance of £10,200 and examples of how this could be used across the two types of ISAs are shown in the table below.
ISA limits for all eligible ISA customers
| Cash ISA | Stocks and Shares ISA | Total ISA Allowance |
| £1,200 | £9,000 | £10,200 |
| £3,000 | £7,200 | £10,200 |
| £5,100 (max) | £5,100 | £10,200 |
| £0 | £10,200 (max) | £10,200 |
Learn more about current ISA limits and rules.
Stocks & Shares ISAs
Investing in the stock market may seem intimidating but our Scottish Widows ISA is an easy and tax-efficient way to invest. It offers the potential for stock market growth and the ability to select your own funds.
Find out more about our Scottish Widows ISA
Cash ISAs
You can invest up to £5,100 in a cash ISA and the rest in a Stocks and Shares ISA each tax year. There are a variety of different cash ISAs, including easy access, fixed rate and notice account.
Look at our range of cash ISAs
Self-Select Stocks and Shares ISAs
These are similar to our ISA Investor except you can choose any Stocks and Shares you like for your ISA, not just our recommended funds.
