Ways to Invest

Instant Access Account
An account where you can withdraw immediately from a bank or building society branch. Most pay more for larger account balances. Some banks and building societies with better value accounts ask you to open them by post but you can then use their branches for transactions.
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SAYE Share Option
(Also called Share Save)
A commitment to save a fixed monthly amount deducted from your pay by your employer for 3, 5 or 7 years at the end of which you are paid a bonus. When you join, you are given the option to buy a fixed number of shares in your company at the end of the3, 5 or 7 years.
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Stock Market Guaranteed Bond
(Also known as Share Index+, Guaranteed Equity Bond, Equity Linked Savings Accounts, Guaranteed Equity Savings Bond)
An account which accumulates interest in line with the growth in value of the FT-SE 100 Share Index for 3, or 5 or 6 years. You are guaranteed to get your money back over the period chosen and the schemes may guarantee a minimum interest rate too. If you want your money back early you get less interest but still get all your capital back. The bonds are issued for a limited time and different issues from the same bank or building society will have different guarantees.
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What is an ISA?
ISA stands for Individual Savings Account which since 6 April 1999 have replaced PEPs (Personal Equity Plans) and Tessas (Tax Exempt Special Savings Accounts).
Existing PEPs are unaffected and you can continue to hold them for as long as you wish but you cannot make any fresh contributions to them. Tessas can also continue and you can continue to make payments into them subject to the maximum yearly limits for the scheme. When your Tessa matures after five years, you can transfer the amount subscribed (but not the accumulated interest) into an ISA. Some banks and building societies offer special Tessa Only ISAs for this purpose.
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Unit Trust or OEIC Invested in a Fund of Eurobonds
(Also called Foreign Currency Stocks and Bond Fund, International Fixed Interest, Currency Bond, Global Bond)
You invest in a fund of foreign currency fixed interest stocks, sometimes called Eurobonds. Most funds invest in a mixture of stocks in different foreign currencies including £.
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Building Society Linked
A commitment to save a fixed amount, monthly or yearly for 10 years into a life insurance policy which after the deduction of a charge is linked to a tax free investment in a bank. After 10 years you stop saving and can continue to earn tax free interest.
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Shares
Lump sum invested in the shares of a company which employs professional managers to invest its assets, mainly in ordinary shares. The price of investment trusts moves broadly with the value of its portfolio of shares.
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