Savings Accounts

Standard Life Bank has today (29 May) announced its new Business Bonus Savings Account, with a market-leading rate of 5.60% gross, for the first six months.

Abbey International has responded quickly to the recent change in UK Base Rates, with interest rates on all its Base Rate Tracker accounts rising on May 14th 2007.

Abbey International has launched a new issue of its Base Rate Tracker Term Account (Issue 6) as part of its range of deposit accounts offering consistent and competitive rates of interest.

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

Rachel Thrussell, Head of savings at moneyfacts.co.uk, comments: “This week sees the launch of two accounts designed for savers aged 50 or over.

Rachel Thrussell, Head of savings at moneyfacts.co.uk, comments: “Today sees the launch of two new fixed rate accounts from Bank of Cyprus UK and West Bromwich BS which push fixed rates to a new high which we have not seen for five years.

Following the increase in the Bank of England Base Rate from 5.25 per cent to 5.50 per cent, Abbey is increasing its savings rates by up to 0.80 per cent from 1 June 2007.

Chelsea Rainy Day PostSaver is a postal account with an attractive rate of interest, 6.00% gross pa/AER+(including an unconditional 1.00% gross pa bonus for the first year from the date of account opening), aimed to encourage people to save for those unexpected emergencies in life. The account is being launched on Saturday 19 May 2007.

New research from Nationwide has revealed that over a third (35%) of people are saving on a regular basis and an additional 44% save from time to time when they have spare funds. It also confirmed that one in five (21%) fail to save anything at all.

Britain's biggest supermarket bank, Tesco Personal Finance is continuing to pass on the benefits of the Bank of England interest rate rise to savers, with yet another rate increase of 0.25%.

From 17th May 2007, Sainsbury’s Bank will increase the interest rate paid on its Internet Saver account by 0.25% meaning it will pay 5.75% Gross AER on all balances.

Chelsea Building Society has launched a new one year Fixed Rate Option effective from Saturday 12 May 2007.

Following the Bank of England’s expected decision to raise base rate by 0.25% to 5.50%, Paul Green of Saga comments: “Following today’s (10 May 2007) announcement by the MPC to raise interest rates to 5.50%, we are pleased to announce that thousands of Saga Secure Savings customers will benefit from the full base rate increase from 1 June 2007, with our AER going up to 5.25%.

Following the increase in the Bank of England Base Rate from 5.25 per cent to 5.50 per cent, Cahoot will make the following changes to its savings rates.

Capital One will increase the rate paid on its Base Beater savings account from Friday 11th May 2007.