An ISA is an Individual Savings Account. It is a tax-efficient account for your savings or investments. From July 1 2014 all ISAs became New ISAs (NISAs). This applies to all existing ISAs and new accounts opened after 1 July 2014. The Government is changing the name to reflect the significantly increased limits and flexibility that will be available to account holders. The NISA is more generous and offers flexibility as you can save your NISA annual allowance in cash, stocks and shares or any combination of the two. Under the NISA rules you will also be able to transfer previous years' ISA savings freely between stocks and shares and cash ISAs if you wish. Shawbrook Bank only offers cash ISAs and in line with many other banks and building societies will continue to use the term 'cash ISA' rather than 'cash NISA' when detailing the ISA products we operate.