How to Apply for Stocks and Shares ISA Accounts

Published on 17 July 2012 by Raffick Marday

How to Apply for Stocks and Shares ISA Accounts

Are you applying for ISA accounts? Then you must first know what they, how many types of ISA accounts are there are and how do they benefit you. Basically, there are only two kinds of ISA accounts offered by financial institutions, Cash ISA accounts and Stocks and Shares ISA accounts.

Cash ISA accounts are basically used for making personal savings such as for a party, for a vacation, for medicines etc. However, stocks and shares ISA accounts are distinct.

Things to consider while applying for stocks and shares ISA accounts:

Stocks and shares ISA accounts protect the interest rate of your investment from the taxman. But remember that when you have such account, you will be investing your savings in different funds. This would mean that the return you get is purely dependent on the existing stock market’s state.

Although you will get a great return if the market goes well, your assets may also depreciate over time. Therefore, it is advisable to assess your options carefully while making the final decision to choose the best ISA for yourself.

Also remember, that the eligibility criteria for applying for stocks and shares ISA accounts are your age which should be 18 years. In addition to this, you must be a citizen of the country where you are applying for these accounts.

Keep in mind that you cannot apply for joint stocks and shares ISA accounts. All ISA accounts are registered for in the name of one individual only.

There are numerous investment options to choose from, but you need to decide which one to pick. All you can do is a little research about the banks that are offering stocks and shares ISA accounts, their features, terms and conditions, benefits and other essentials before actually applying.

One of the most renowned websites from where you can have more information about stocks and shares ISA accounts is

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