Savings Accounts

With Post Office Instant Saver customers now benefiting fully from July’s interest rate rise as their savings rate hit 6 per cent on 1 August, the Post Office urges savers not to be complacent with their money just because the base rate hasn’t gone up this time.

Rachel Thrussell, Head of savings at Moneyfacts.co.uk, comments: “Today sees the launch of a new regular saver from Derbyshire BS. The account has standard regular saver T&Cs, requiring regular deposits of between £10 and £250 per month. The account has no expiry date, and allows four penalty free withdrawals per year.

Alliance & Leicester has announced the return of Premier Regular Saver, its best buy savings account offering a market-leading rate of 12.00% gross pa/AER.

Abbey Savings warns that many people won’t have much to celebrate, financially speaking, when they hit the big five ‘O’. Many Britons haven’t built up sufficient savings and could well be facing a challenging retirement.

Scarborough Building Society has just launched two outstanding new savings products to give customers a high interest way of saving for the future.

From 1 August 2007, Abbey is extending the bonus period on its highly popular eSaver account for new customers, due to ongoing strong demand for the product. This is to ensure that new customers continue to benefit from an attractive bonus period.

Savers are enjoying the highest savings rates for years, following the latest rise in base rate to 5.75 per cent, with plenty of accounts paying 6 per cent or more, according to leading personal finance website Find.co.uk.

Bank of Scotland International has increased the interest rate on its Instant Access Savings Account, with immediate effect:

Millions of instant access savers are losing confidence in their chosen provider to pass on the benefits of Bank of England rate rises, according to a new study by Tesco Savings.

HSBC continues to dominate the online savings market with a further increase to its popular Online Saver offer, up 0.25 per cent to 6.25 per cent from 3 August.

Following the increase in the Bank of England Base Rate from 5.50 per cent to 5.75 per cent, cahoot is increasing rates by up to 0.50 per cent on top tiers of accounts.

Capital One will increase the rate paid on its Base Beater savings account from 6th July 2007.

The Post Office is increasing the rate on its Instant Saver account from 5.75 per cent to 6.00 per cent following today’s rise in the Bank of England base rate.

Virgin Money will increase the interest rate for Deposit Account and Cash ISA customers to 5% (AER) from midnight on Friday 20th July 2007.

Britannia Building Society will plant a tree for every child whose parents open a savings account for them between Monday 2 July and 2 September 2007.