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ISAs | 15th November 2018

Which ISA should you choose?

Choosing an Individual Savings Account (ISA) used to be simple. There was either a cash ISA or a stocks and shares ISA. But now, we are spoilt for choice.

What ISAs are available to me?

There are six different types of ISA to choose from with an annual tax-free limit of £20,000:

  • Cash ISAs
  • Stocks and shares
  • Junior
  • Lifetime
  • Help to buy
  • Innovative finance

With so much choice, how do I know which is right for me?

That depends. You should consider how much risk you can take, interest rates, how long you want to save, and what you want to do.

Which ISA is for me?

Choosing an ISA might be time-consuming, but it doesn’t have to be. We’ve made this helpful quiz to narrow down which type of ISA may be best suited to your needs and saving experience.


  1. Are you comfortable knowing you could lose some of your money?

    1. Definitely not!
    2. I would prefer not to, but it’s a risk I’m willing to take for a higher reward
    3. This is nothing to worry about – long-term savings will make up for this
  1. Are you able to go without access to your money?

    1. I’ll probably need to access my money from time to time
    2. I don’t need access for at least five years
    3. I’ve got plenty of time until I need the money
  1. How often do you review your savings progress?

    1. Never. It’s too stressful!
    2. I make sure to look at it once a year and see where I could make changes
    3. I regularly check how my investments are doing
  1. What do your savings look like?

    1. Only cash
    2. It’s made up of cash mostly and low-risk investments
    3. It’s full of stocks and shares. I can’t be bothered with cash.
  1. How quickly do you need to save?

    1. I don’t mind things taking a little longer as long as my money is safe.
    2. I want to save as fast as possible but also want my money to be as safe as can be.
    3. I’m willing to take risks if it will speed up my savings process.
  1. Do you already have savings to fall back on?

    1. Nope
    2. I have a few months salary saved up
    3. I have loads of savings

Check your score

A = 0 points

B = 5 points

C = 10 points

If you scored 0 – 10


If you’re all about low-risk, a cash ISA is the safest option for you. Interest rates aren’t at their best right now, but you still benefit from a tax-free allowance giving you 20% more interest than regular savings accounts.

If you scored 10 – 30

A mixture

You’ll have to take on more risk than just going with a cash ISA, but the potential gains greatly outweigh cash-only ISA savings. Keeping some money in a cash ISA keeps your risk to a minimum.

If you scored 30 – 50

Stocks and shares

You can afford to take a little more risk, and your returns will thank you for it. Invest money in stocks and shares, and if you’re strategic enough you could see enormous returns on your investment.

If you scored 50 – 60

Innovative finance

With proper investment knowledge and no fear when it comes to risk, selecting innovative finance might be the best way for you to get huge returns within a fixed timeframe. 

If you need help finding the best ISA for you, use the Apples For Oranges’ comparison tool to navigate the market.

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