There has been "no better time to invest in an individual savings account (Isa)", one expert has claimed.
Kevin Mountford, head of savings at Moneysupermarket.com, explained that with the increase in tax-free Isa allowance and an increase in interest rates, the products are currently very attractive for those looking for a savings account.
He said: "Rates on cash Isas are, on average, one per cent higher than this time last year and with market conditions being so strong for savers, there may have never been a better time to invest.
"Those with a lump sum to put away should make the most of the new £3,600 tax-free allowance."
He added that people should place their money into a "leading cash Isa", like the Barclays Tax Haven Isa, has an interest rate of 6.5 per cent.
Last week, the government claimed that changes to the regulations relating to Isas would make them simpler and encourage more people to make use of the savings accounts .
Now is the time to invest in an Isa, expert claims
Now is the time to invest in an Isa, expert claims
Mon, 07 Apr 2008
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