Confusion with the differences between equity and mini cash Isas alongside current stock market vola...
Confusion with the differences between equity and mini cash Isas alongside current stock market volatility has put people off taking advantage of tax free savings, according to a survey conducted by The Royal Bank of Scotland (RBS).
The survey said some 34% of savers did not put money into mini cash Isas because they felt the stock market was too risky. In contrast the survey found that 58% of savers accept they should be looking to make more of tax free savings ahead of the end of the tax year on 5 April.
RBS said this suggests there is a strong appetite among savers to enter the mini-cash Isa market, perhaps due to fears over equity based investment.
The research also found that one in three respondents said they had taken out a mini cash Isa while one in seven said they had never heard of such a savings vehicle.
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