As the new £15,000 ISA limit comes into effect tomorrow research has suggested many people will be shunning the revamped savings account.
Nearly four in ten consumers do not intend to use the new individual savings accounts at all, a survey found.
Just 16 per cent said the launch of NISAs will make them more likely to save, despite the greater flexibility and simplicity.
The new £15,000 limit is an increase of £3,480 from the 2013-14 figure.
One third of people have never heard of NISAs according to the survey of 2,000 people, which was carried out by True Potential.
The changes to ISAs giving savers the ability to invest up to £15,000 per tax year in either cash or stocks and shares, or a combination of both, which were announced in the Budget, take effect from tomorrow.
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True Potential found that out of those intending to use a NISA, 44 per cent will invest in cash only and just one in ten are planning to invest the maximum £15,000.
Daniel Harrison, senior partner at True Potential, says the research shows an urgent need for more specific savings goals and targets, which 'are a fundamental part of successful saving.'
He said: "The clear message from savers is that they are not yet aware of the extra benefits that NISAs will bring, and may well turn to their financial adviser for guidance.
"We have urged the government to go further and extend the ISA allowance to £25,000 to make them a more viable alternative to pensions.
"However, if savers use their NISA allowance to invest in cash alone, their savings will in almost all cases reduce in value due to the poor interest rates offered by high street banks."
Earl Glasgow, managing partner at True Potential Wealth Management, said: "We believe that simplicity is key to encouraging more people to save and so we welcome these changes.
"As well as having the ability to invest more money in products that add value, there is also the need for technology to make saving more a part of everyday life."
Don Wernham, an adviser at Simple Solutions Financial Management, said: "I am not surprised that there is a need for greater awareness.
"People I have spoken to are aware that things are changing, but generally they are unaware of what it is, and so the government should consider a concerted campaign on savings. There is a clear role for advisers to play here."