What is an ISA or Individual Savings Account, and should i invest in one?

I'm 16 and want to invest a couple of hundred pounds in an ISA, which i ponder will be the best, non-risk leeway for me; is it a clever entry to do, and does anybody enjoy any thinking on where on earth to win the best ISA beside the most interest, and also if they've proved to be a successful investment to anybody? Thanks.

Answers:
I guess the best explaination is that it's a form of tax-free money justification, and one of the few better philosophy of this idiot Labour organization.
There are 2 or 3 different kind, the sort you probably inevitability to be looking at individual a mini-cash ISA... explained on this site:
http://www.fool.co.uk/savings/informatio... (best place to look up stuff roughly speaking money).
The HALIFAX would probably be the best place to start looking to enlarge one:
http://www.halifax.co.uk/isas/taxfreesav...

The other pick you may want to consider self Premium bonds:
http://www.nsandi.com/products/pb/index.

Either of these 2 would probably be upright bets, especially near the stockmarket (where the solid money can be made or lost... see fool.co.uk again) individual a bit volatile at the moment.
that sounds approaching a regular run of the mill standrad bank reserves commentary. Go for it.


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