Brits could lose out by delaying ISA allowance

Brits could lose out by delaying ISA allowance January 16

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Brits could lose £462 million in interest by delaying using their yearly ISA allowance, research carried out by Abbey suggests.

A typical ISA customer who fails to put the maximum £3,000 into a Cash Mini ISA between January 1st and April 5th could miss out on interest of some £38.54 – and when this is factored into the country’s 12 million ISA savers that means huge amount of money is going begging.

Easier quotes Alexia Kilby, head of savings marketing at Abbey, as saying: “Many people leave saving in an ISA to the last minute.

“However, the lost interest of delaying is significant. It is important to remember that people can use their £3,000 tax free ISA allowance at any time, not just at the tax-year end.”

Abbey itself offers a competitive range of ISA services, including its Easy ISA and Postal ISA products. Both offer savers interest rates of up to 5.15 per cent.

Written Exclusively by AdFero for ISA Guides

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