ISA
n. countable C1 Advanced US //ˈisə// isa
n. Stands for Individual Savings Account. A special type of bank account in the UK that lets you save money without paying tax on the interest you earn.
n. Abbreviation for Individual Savings Account. A tax-efficient savings or investment account available to residents of the United Kingdom.
I put my savings into an ISA to avoid paying tax.
The government sets a maximum limit on how much money you can deposit into an ISA each tax year.
While a Cash ISA offers guaranteed returns through interest, a Stocks and Shares ISA carries more risk but provides the potential for higher long-term growth within a tax-free wrapper.
Usage
Commonly used as a countable noun; the acronym is typically pronounced as a single word rather than individual letters.