Banking & Saving - People 'more positive about placing cash into savings accounts'

Britons' views on saving continue to improve.

The nation's propensity to place money into savings accounts is at its highest for more than 18 months.

Four-fifths of those questioned by Nationwide last month described themselves as being either regular or occasional savers, the highest figure recorded by the building society since May 2008.

Data published in the organisation's Savings Index reveals a headline score of 91 for February, an improvement of six points from the previous month.

Just under a fifth (19 per cent) believe now is a good time to save money given the financial climate, an improvement from the 16 per cent of people who felt this way in January.

"It is encouraging to hear that more people are feeling more positive about saving given the current economic situation," says Andy Hutchinson, head of savings for Nationwide, with the rise partially attributed to consumers making use of ISAs as the current tax year draws to a close.

However, David Kuo, director of Fool.co.uk, claimed those who are yet to open or use these UK accounts should "get a move on, because the deadline has arrived early this year".

By Bret Clement