Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

17/08/2012 15:24:53

17m to benefit from ISA deposits this year

New research reveals that 17 million Britons will pay money into a cash ISA this tax year.

Santander found that Londoners are the most likely to add to their savings pot, with 45 per cent planning to utilise this form of wealth management.

However, just 26 per cent of those in the North East will do the same, just behind savers in Wales (29 per cent).

Last year, the average amount deposited was £1,883 - well down on the maximum allowance of £5,340. This has now risen to £5,640.

The research also found that 11 per cent of cash ISA holders have a 'secret' account, which is concealed from their partners and/or family members.

Andy Smith at Santander had the following financial advice for ISA savers: "With only three months gone in the new tax year, savers should be looking to make use of their full cash ISA allowance sooner rather than later.

"Trying to save as early as possible into a cash ISA will always reap benefits."

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