Savings Accounts

With England set to be smoke free from 1st July, many people will be marking the occasion by stubbing out cigarettes for good. Aside from the obvious medical benefits, research from Alliance & Leicester Savings reveals the nation’s financial health could also be dramatically boosted by quitting smoking.

Chelsea Building Society has launched two new Fixed Rate Options effective from Saturday 16 June 2007.

First time buyers looking for ways to enter the housing market need look no further than Britannia's HomeSaver Account with its new interest rate of 7.15% gross / AER.

Commenting on the launch of Coventry Bank's Sixty-Plus eSave account, Kevin Mountford, head of savings at price comparison website moneysupermarket.com, said:

Coventry Building Society launches an exciting addition to its highly successful Sixty-Plus range of savings accounts – a new easy access, online account exclusively for the over 60s.

Andrew Hagger, Head of news and press at Moneyfacts.co.uk, looks at the deal that may shake up the already competitive Internet savings market.

Despite there being no change to the Bank of England base rate this month, Sainsbury’s Bank has announced that it is to increase the interest rate on its Internet Saver to 6%.

Customers are set to cash in as an internet savings war breaks out among top companies with several firms offering rates above six per cent, predicts MoneyExpert.com. The independent financial comparison website says firms continue to react to Bank of England base rate rises in a bid to capture more customers.

Commenting on the rate increase on Sainsbury’s Internet Saver, Kevin Mountford, head of savings at moneysupermarket.com, said: “This is certainly ‘fresher’ banking from Sainsbury’s – a high paying, ‘whiter than white’ account with no sneaky bonuses, or penalties for withdrawal.

In keeping with its commitment to provide attractive savings rates for its customers, Skipton Guernsey Limited (SGL) has responded to the recent rise in the Bank of England base rate and passed on the full benefit to its customers with a 0.25% increase across the range of its simplified range of variable rate investment products, effective from 1 June 2007.

Scarborough Building Society is today launching two outstanding new savings products helping customers to capitalise on the current high interest rate environment.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “With bank base rate increasing by a full percentage point over the last nine months, savings accounts can now offer rates high enough for savers to sit up and take notice.

Principality, Wales’ largest building society has increased the rate paid to its e-SAVER account. e-SAVER customers will earn a market leading 5.85% gross p.a. on their savings which is one of the best online rates available in the market today.

Top UK direct savings provider, Birmingham Midshires, this week launches a new online savings account offering long-term savers a market-leading rate. The account is aimed at savers who are looking to lock their money away to attract a higher rate of interest but like the comfort of knowing they can access the money should an urgent need arise.

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 per cent, following the Monetary Policy Committee’s May base rate rise.