Sam Dunn: Don't let the hype put you off buying an ISA

Make sure you get an interest rate of at least 5 per cent on a mini cash ISA

Fever, there's a lot of it about. ISA fever, that is, as banks, building societies and fund managers work themselves into a lather in trying to boost sales of individual savings accounts. Be it a plain old cash deposit account or a high-octane investment fund - parking your money in India - marketing machines have been in overdrive.

In the space of 10 minutes during a journey to work last week, I counted a total of seven adverts for fund managers on billboards and bus-stop posters and in magazines and newspapers. The names included New Star, Jupiter and M&G.

A recurring theme - particularly in the cases of the first two fund managers, with their planetary and galaxy icons - was the suggestion of heavenly growth.

And with three days to go until the end of the 2005- 06 tax year, such claims come as no surprise.

If you've been thinking of putting money into an ISA but have been dithering for ages, you'll be a prime target for these moneymen, who are keen to catch your eye - and your wallet.

Many banks and independent financial advisers are planning to extend their opening hours - in the office, on the telephone and online (as late as midnight in some cases on the web) - to give you as much time as possible to apply.

Miss the 5 April deadline and of course you'll still have another £7,000 allowance to play with when you wake up next morning.

But passing up any chance for your money - from as little as £1 a month in a mini cash ISA or £10 in an equity fund - to grow tax-free is tantamount to saying to Revenue & Customs, "Take my interest and tax it - I don't care."

It might sound harsh but given how much we all moan about tax - whether on our monthly income, our inheritance, savings or capital gains - we really ought to be making the most of any break the Chancellor gives us.

If you're averse to risk, your port of call is a mini cash ISA, though make sure you read all the fine print. For example, if you need instant access, check that there are no penalties for dipping into your account.

There's absolutely no excuse for not getting a decent rate of interest as well. As a rule, look beyond your bank but make sure you get at least 5 per cent (see our tables on page 26).

If you fancy a punt on the stock market, there are over 2,000 funds to choose from.

What you go for should really depend on your existing investments (if you have any), your attitude to risk, and how long you can afford to tie up your cash.

Your ISA allowance is one of pitifully few gifts from the taxman; not to take it could be considered rude.

s.dunn@independent.co.uk