Ever since 1999, UK citizens have been provided a more flexible way of savings by means of what is known as an Individual Savings Account (ISA.) Unlike its predecessors Personal Equity Plans (PEP) and Tax-Exempt Special Savings Account (TESSA), the purpose of introducing ISAs was to encourage all classes of UK consumers to deposit money on banks where they will benefit from the interest rate and in turn helping the entire UK economy. An ISA allows savers to enjoy their savings without having … [Read more...]