Types of Saving and Investment Flashcards
1
Q
Individual Savings Account (ISA)
A
A tax-free way to save or invest
2
Q
Deposit and Savings Accounts
A
An account where interest is paid on the balance
3
Q
Premium Bonds
A
A government scheme that allows individuals to save, to a set amount, in bonds, No interest is earned but the bond is placed into a regular draw for cash prizes
4
Q
Shares
A
Investments in business in return for equity. The shareholder becomes a part-owner of the business
5
Q
Pensions
A
Long-term savings plans where individuals make regular contributions throughout their working life. This is then repaid upon retirement, either as a lump sum or regular payments
