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Eligibility For ISAs

There are many different choices available to you when it comes to investing your money, but one of the most common financial investments is an ISA. An ISA, or Individual Savings Account, is a fairly new investment option that is backed by the government. There are many details to consider before deciding to under take the financial commitment of an ISA, but first you must determine whether or not you are eligible.

If you are looking to open a cash ISA, you must be at least sixteen years old or older. If you are looking to open a stocks and shares ISA, you must be at least eighteen years old or older.

For both ISAs, you must be a resident of the UK, as there are tax details involved. If you are an employee of the Crown, you are also eligible, as well as your spouse or civil partner. It is also not possible to hold a joint ISA with anyone, or hold it on behalf of an individual other than yourself.

When searching to open a cash ISA, be sure you find the best cash ISA rates to insure a stable financial future, and the most savings possible.