What is an Isa? We explain what they do, how to pick the best one for you and how they can make you richer
Isas used to be so simple. Now there’s a help-to-buy Isa, an innovative Isa, a lifetime Isa… Isas all over the place.
So we decided to go back to basics, for a simple explainer of what an Isa actually is and how to pick the best one for you.
In this episode of the Big Money Questions, senior investment planner at Vanguard James Norton, goes through what you need to know about Isas and how they can make you richer.
He also explains how to start if you don’t have one at all, or if you are saving for the long term and want to open a stocks and shares Isa.
THIS IS MONEY'S FIVE OF THE BEST SAVINGS DEALS
Chip* pays 4.84% to holders of its ‘instant access account’. The account can be opened with just £1. Its app only. Money will be held by the UK authorised bank ClearBank.
![](https://cdn.statically.io/img/media.sailthru.com/composer/images/sailthru-prod-626/chip_122x84.png)
Charter Savings Bank pays 5.08% to holders of its ‘easy-access savings account’. The account can be opened with £1,000.
![](https://cdn.statically.io/img/i.mol.im/i/pix/2017/01_01/NewCharterDM1702_122x84.jpg)
MBNA pays a rate of 5.27% on its one-year fixed rate savings account. This deal must be opened online on MBNA’s website and then managed by phone. The minimum deposit is £1,000.
![](https://cdn.statically.io/img/i.dailymail.co.uk/i/pix/2015/09_02/mbna_122x84.jpg)
Raisin UK* is home to a 5.05% one-year fixed rate savings account. It is offered by one of its partner banks Paragon Bank. You can open the account online via Raisin’s savings platform with a minimum deposit of £1,000.
![](https://cdn.statically.io/img/media.sailthru.com/composer/images/sailthru-prod-626/Raisin_122x84.png)
Hampshire Trust Bank pays 5% to holders of its ‘two-year fixed rate deal’. The account can be opened online with a minimum deposit of £1.
![](https://cdn.statically.io/img/img.thisismoney.co.uk/modulepix/hampshiretrust_118x81.jpg)
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