Those planning to start saving money through using their annual tax-free allowance are being urged to take action before the deadline of April 5th.

Last year almost 290,000 individual savings accounts (Isas) were opened during March, which constituted 14.25 per cent of all the Isas opened in 2005.

Now Bradford Bingley is advising those planning to save money to open their Isa now, with the savings provider offering a new deal for this purpose.

A one-year, limited edition mini cash Isa has been made available to customers who have at least £1,000 to invest in a savings account.

Paying a tax-free savings interest rate of 4.85 per cent annual equivalent rate, the savings account offers an attractive rate, according to the savings provider's head of savings, Steve Potter.

He adds that Bradford Bingley hopes the savings account will appeal to those who have not opened an Isa in the previous year.

People who don't feel confident about investing in the stock market and want to know from the outset exactly how much money they will make may find this Isa is a good way of saving for the future, Mr Potter concludes.

Consumers are being urged to move quickly to make the most of their tax-free allowance before the end of this limited offer.