Abbey: Don’t miss out on Isa interest

Savers could miss out on up to £360 in interest by delaying their individual savings account (Isa) deposits, warns Abbey.

The bank explains that savers who do not invest their maximum £3,600 in a Mini Cash Isa from April 6th 2008 to April 5th 2009 are losing out on a “significant amount of interest”.

Reza Attar-Zadeh, director of savings and investments at the firm, says that rates on these accounts are better than ever and with a recently increased limit, people would be wise to take advantage of them.

“People that leave saving in an Isa to the last minute face losing a significant amount of interest throughout the year,” he said. “Additionally, the competitive deals that are currently available may not be available next year.”

Norwich and Peterborough Building Society also recently highlighted the benefits of an Isa, claiming that saving money should be more important than ever as the cost of living increases.

© Adfero Ltd

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