An Individual Savings Account (ISA) is a type of savings account available in the United Kingdom that allows individuals to save money without paying tax on the interest earned. There are different types of ISAs, including Cash ISAs and Stocks and Shares ISAs, catering to various saving and investment preferences. ISAs have annual contribution limits, which can change each tax year. The money saved in an ISA can be withdrawn at any time without penalties, making it a flexible option for those looking to save for short-term or long-term goals.