Imagine owning Coca Cola. Or lending money to the Government. Or having a stake in Nigeria. You can do all these things with a stocks and shares ISA - and grow your money as well.
If you are looking for better returns on your savings, or just have an interest in investing, a stocks and shares ISA could be the right product for you.
Like a cash ISA, your interest is tax-free. But unlike a cash ISA, you are not just saving money but investing it in things like company shares. According to Hargreaves Lansdown, if you're prepared to invest for more than 5 years, you could be looking at returns of 7% a year.
You can compare stocks and shares ISAs on a comparison website like . Large providers include and . Unlike a normal savings account, there is not a guaranteed rate. Instead, look out for any management fees, how much money you need to save to open an account and whether you can access the account online.
Some stocks and shares ISAs will invest in a small number of funds - others will let you choose between thousands. If you want to be more hands-on, try a self-select stocks and shares ISA.
Stocks and shares ISAs with only a few funds should list what these are. If you want to learn more about the individual funds, you can search for them on .
Depending on the ISA you buy, you can use your money to buy individual shares in companies, or individual bonds. Or you can buy a tracker fund covering the whole stock market, or invest with an individual fund manager - where they buy and sell shares on your behalf for a fee.
Unlike a cash ISA, there is no guarantee you will get the same amount of money back. Some options are more riskier than others. You can read more about .
Always research a bond, fund or stock before investing, try to spread your money around different types of investments, invest small amounts of money regularly rather than a lump sum, and never invest more than you can afford to lose.
Think a stocks and shares ISA isn't for you? There's loads of other ways to get a better savings rate - .