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Savers told to avoid usual ISA rush

Savers have been urged to get in quick this time around and avoid the typical last-minute rush to open an ISA before the end of the tax year.

Alan Oscroft, writing for The Motley Fool website, said the end of March always coincides with a flood of people opening an ISA before they lose their annual allowance.

However, according to Oscroft, there are several reasons why savers should not delay in making the most of the higher 2011/2012 ISA allowance.

He said if you leave one year's ISA investment until the end of the year, you will lose a year's interest or dividend for the entire duration of your ISA.

Those opening an ISA early will also be more motivated to put money into it throughout the year - for instance when you have some funds left over at the end of the month, with the majority of ISAs allowing you to save modest monthly sums.

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