Rates of interest 'important to savers'
13/03/2007
A good rate of interest is the most important factor when choosing a savings account, according to a new survey by Alliance & Leicester.
Some 84 per cent of respondents indicate that this is what concerns them most when considering their savings options, the research states.
Not paying tax on savings is the most vital consideration for 40 per cent of the nation's financial customers, Alliance & Leicester finds.
However, the bank suggests that there is still a quarter of people who are unsure about individual savings accounts (Isas).
Ross Dalzell, manager for savings at Alliance & Leicester, said: "It is amazing that after all the recent media attention on Isas that many of the myths and misunderstandings surrounding them are yet to be dispelled for a high proportion of the population.
"Isas are, after all, just as straightforward to set up and manage as any other savings account."
With April 5th approaching, the Association of Investment Companies has urged consumers to use up their tax free savings allowance before the end of the financial year.
Some 84 per cent of respondents indicate that this is what concerns them most when considering their savings options, the research states.
Not paying tax on savings is the most vital consideration for 40 per cent of the nation's financial customers, Alliance & Leicester finds.
However, the bank suggests that there is still a quarter of people who are unsure about individual savings accounts (Isas).
Ross Dalzell, manager for savings at Alliance & Leicester, said: "It is amazing that after all the recent media attention on Isas that many of the myths and misunderstandings surrounding them are yet to be dispelled for a high proportion of the population.
"Isas are, after all, just as straightforward to set up and manage as any other savings account."
With April 5th approaching, the Association of Investment Companies has urged consumers to use up their tax free savings allowance before the end of the financial year.
