Isas to be ‘increasingly’ popular
November 6, 2007 by admin
Filed under News, News-Banking
The growing popularity of individual savings accounts (Isas) in the past few years is a continuing t
rend, an industry expert has said.
According to Michael Brill, director of Baronworth Investment Services, people are increasingly putting their equity into Isas as traditional banking methods become more risky and less attractive.
He said: “If you go into a cash Isa then it is very safe. In a deposit account, one would have thought it is the safest you can get.
“If someone wants to make sure their money is saved and they are not playing with the stock market it is an excellent way to save tax free money and a lot of people are doing it.”
He added that, in the most part, cash Isas are “very flexible”, with consumers advised to select one that best suits them.
HM Revenue and Customs released figures this month showing the amount of money invested in Isas, which now stands at an impressive £208 billion.
