Savings Accounts

Halifax today (Friday 9th May 2008) announces that it has increased the rate for its Web Saver Extra account to 6.35% gross (6.07% AER). This includes a 0.35% gross bonus until 18th July 2008.

Chelsea Building Society has announced the launch of Rainy Day Savings (3rd Issue) from Thursday 8 May 2008.

Bradford & Bingley is bucking the current trend for instant access accounts and fixed rate bonds in the savings market with the launch of two market-leading notice accounts, paying up to 6.30% AER and ideal for savers who want to keep their savings at arms' length but retain the flexibility to access their money if they need to.

Saga Personal Finance has announced the launch of a new online saving account guarantee that offers savers the reassurance that the rate on their savings will not be more than 0.25% AER below the average of the top 5 variable internet accounts, currently 6.25% Gross (6.43% AER).

Cahoot will be changing its savings rate on its standard savings account on 8 May 2008, following April's cut in the Bank of England Base rate by 0.25 per cent to 5.00 per cent.

Sainsbury's internet saver is the only instant access account to consistently offer above base rate interest on balances of £1 or more for the last three years.

Leeds Building Society has launched a new Postal Tracker savings account, which is guaranteed to track the Bank of England Base Rate plus 1.50% until 1st December 2008. Therefore, the account currently pays a great rate of 6.60% AER (6.50% gross).

eSaver, launched in November 2007, has maintained the same rate of interest despite three base rate reductions.

From Friday 25 April, the Coventry will re-launch 50 Plus eSave, its online savings account exclusively for the over 50's.

Chelsea Building Society is encouraging savers to point their savings in the right direction with the launch of its Chelsea 90 Day Notice account on Saturday 26 April 2008.

Sean Gardner, of MoneyExpert.com, said: "Abbey's new super saver account, at 9.1%, offers a fantastic rate but, as one would expect from such a headline catching product, there are catches to look out for.

Abbey Savings has launched their new Instant Access Saver account paying a market leading rate of 6.50 per cent gross on the total balance of the account if £1,000 or more is held in the account.

To help savers make the most of their savings, Yorkshire Bank has launched a new term deposit account with a guaranteed interest rate of up to 6.25% AER.

With recent reports highlighting a rise in the cost of living, potential first-time buyers are finding it more difficult to save for their deposits.

Abbey launches its new Super Saver on 21 April 2008. The Super Saver is a limited edition 12-month fixed-rate account offering 9.1 per cent if customers put an equal amount or more into any Abbey investment product. Minimum deposit is £1, and maximum investment is £2m.