The deadline for adding funds to ISAs is approaching.

The British population as a whole saved more money over the winter months (ending February 2009) than the rest of the year, according to new research from National Savings & Investments (NS&I), published before the end of the 2008/2009 tax year – 5 April – the deadline for adding funds to ISAs.

NS&I research discovered that just under half the population (47%), save on a regular basis – and the average amount saved during the winter months, £201.55, was more than the full-year average of £193.34.

A tax-free way to save is through an ISA (Individual Savings Account). The end of the tax year marks the last date when funds can be added to ISAs – up to £3,600 in cash ISAs and £7,200 in stocks & shares ISAs.

These tax-free savings accounts were introduced in 1999 to replace PEPS and TESSAs and are yearly-accounts, meaning a saver cannot invest in more than one cash ISA, or more than one stocks & shares ISA in the same tax year.

Dax Harkins, NS&I’s Senior Savings Strategist, commented on the savings survey:  “During 2008 and into 2009, the main reason the population was saving was to help them cope in case of an unexpected emergency (57%). Saving for a house deposit, mortgage or home improvements (39%) and saving for a holiday (46%) were also popular savings goals.

“It is clear that people are aware of the need to save more in these uncertain times and it is encouraging that, despite additional pressures on incomes, the average value of people’s total savings was £17,443.”

To find out more about how to save and the different accounts available, visit NS&I’s dedicated website: www.youandyourmoney.info