| itons are taking an increasingly positive view towards | | | | tax-free savings that such products offer. |
| saving money, research from one building society | | | | The building society goes on to report that two-thirds |
| shows. | | | | of the total ISA business in the savings industry takes |
| People appear increasingly willing to make use of | | | | place between February and May, making March a |
| savings accounts, if a new set of figures are anything | | | | particularly popular month to make use of such |
| to by. | | | | products. However, with the next financial year now |
| Data released by Nationwide in its latest Savings Index | | | | underway consumers may be keen to continue |
| revealed an overall score of 94 points for March. Not | | | | making contributions to such products. |
| only is such a figure three points above that recorded | | | | Andy Hutchinson, head of savings for Nationwide, |
| in the previous month, it is also 15 higher than the tally | | | | states: "Now that the new tax year has started, some |
| of 79 noted in March 2009. | | | | savers' attention will be switched on to saving as early |
| Such growth appears to be driven by an increased | | | | as possible in an ISA to maximise their tax benefit. |
| propensity for regular saving, as some 51 per cent of | | | | With this in mind, it wouldn't be a surprise to me if the |
| people now claim they are setting cash aside into UK | | | | Savings Index rose again in April. There has already |
| accounts on a regular basis, up three percentage | | | | been a nine-point increase since January 2010." |
| points from February. Meanwhile, an increasing number | | | | With such comments in mind, those keen to make use |
| of people believe government policy is encouraging | | | | of an ISA could be well advised to be aware of how |
| them to set aside money for a rainy day. | | | | much they will be able to place into such accounts. |
| And having a particular impact on people's opinions on | | | | Recent research from Clydesdale and Yorkshire |
| saving, however, appears to be individual saving | | | | Banks showed nine out of ten (89 per cent) Britons |
| accounts (ISAs). With March the last full month | | | | are unaware of how much they can place in the |
| consumers had to invest in the account before the | | | | tax-free savings products, while one-fifth state they |
| end of the fiscal year, the building society claims many | | | | did not know they could make regular deposits into |
| people have focused on making the most of the | | | | such accounts rather than investing lump sums. |