What is a Cash ISA? A Cash ISA is a savings account with interest earned tax free. They are available to anyone aged 16 or over. Cash ISAs are usually seen as suitable for short to medium-term savings goals - if you want to put some money away for a holiday, home improvements or car repairs for example. What is an Innovative Finance ISA? An Innovative Finance ISA allows you to invest in peer to peer lending schemes without paying tax on the returns or interest. Peer to peer lending is a growing way for businesses and individuals to borrow money without going to a bank. What is a Lifetime ISA? From April 2017, anyone aged 18-39 can put up to £4,000 into a Lifetime ISA every year until their 50th birthday and receive a 25% Government bonus – that’s £1,000 for every £4,000 saved. The money can be used towards a first home or be withdrawn at age 60, tax-free. Eventually the Lifetime ISA will replace the current Help to Buy ISA.