What is an ISA? (Individual Savings Account)? There are two types of ISA, a Cash ISA and a Stocks & Shares ISA. Each individual has a tax year allowance (6th April to the 5th April the following year) of £5,100 in a Cash ISA. This investment will count against your total tax year allowance of £10,200 (including investment in a Stocks & Shares ISA) in the tax tear 2010/2011. You can only subscribe to one Cash ISA and one Stocks & Shares ISA in any tax year.To buy an ISA you must be over 16 years old and resident in the UK. They are Tax efficient as you do not have to pay income tax on interest earned.

Account	AER	Minimum Investment	Summary
e-ISA	2.90%	£1	Includes 1.15% gross p.a. Bonus fixed until 31 July 2012. Core rate 1.75% gross p.a./AER variable. Instant access with unlimited withdrawals and deposits up to your annual cash ISA limit.
1 Year Fixed Rate ISA	2.75%-2.99% Depending on amount invested	£1	A branch-based one-off lump sum investment that pays a tax-free fixed rate of interest over a fixed term. Minimum age 16. Available to maturing Fixed Rate ISA customers only.
3 Year Fixed Rate ISA	3.50%-3.85% Depending on amount invested.	£1	A branch-based one-off lump sum investment that pays a tax-free fixed rate of interest over a fixed term.
4 Year Fixed Rate Bond	4.00%-4.25% Depending on amount invested.	£1	A Nationwide branch-based one-off lump sum investment that pays a tax-free fixed rate of interest over a fixed term of 4 years.
Instant Access ISA	0.25%-0.50% Depending on amount invested.	£100	A passbook account that gives you instant access to your funds and tax-free returns.
Champion ISA	2.70%	£1,000	Every month the Nationwide find the five highest branch based cash ISA interest rates from a group of 8 high street banks. The average of the five highest rates becomes the Champion ISA core interest rate for the next month. For all accounts opened from 1 February 2011, Champion ISA also pays a fixed bonus of 1.21% gross p.a. until 30 June 2012. The bonus is calculated daily and is not earned for any day that your balance drops below £1,000.
Members ISA Bond	0.5%-0.75% Depending on amount invested.	£1+	If you’ve been a Nationwide member for 3 or more years, you can earn a higher tax-free rate if you don’t need unlimited access to your ISA savings. The Nationwide members’ ISA Bond lets you make an unlimited number of deposits up to the annual cash ISA limit and three penalty free withdrawals each tax year. Further withdrawals in the same tax year are subject to 30 days’ notice or loss of interest.