Mar 13 2007
A quarter of Britons are not adequately informed about individual savings accounts (Isas), it has been claimed, with a fifth believing that the accounts are too complex.
Recently published research from Alliance & Leicester Savings found that while 84 per cent of savers look for a good interest rate, four in ten think about the potential tax benefits.
Ross Dalzell, manager for savings at the firm, 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."
He added that the accounts are in fact as simple to set up and manage as standard savings accounts.
Earlier this week, a survey from Fidelity International revealed that a quarter of consumers investing in Isas were not yet sure where they should invest their allowance this fiscal year.
The firm recommended a balanced fund spread over a range of asset classes for those savers wanting to spread the risk of their investment.
