Savings Accounts

Rachel Thrusell, Head of savings at Moneyfacts.co.uk, comments: “This week has seen a welcome boost for the over 50s savings market. Coventry has relaunched its market leading Sixty-Plus Esave, available to those aged over 60, with a 50 Plus Esave account, paying the same headline rate of 6.40% but now available to anyone over the age of 50.

This week is the 50th anniversary of the launch of Sputnik 1, which marks the start of the Space race.

Scarborough Building Society has launched a tracker savings account paying competitive rates of up to 6.30%.

Summer may have been a washout, but 14 million super saving Britons won’t be fazed since they have plenty of money stashed away to make a rainy day purchase - some £49 billion in total.

From 1 October 2007, Abbey is extending the bonus period on its highly popular 50+ Saver account due to ongoing strong demand for the product. This is to ensure that new and existing customers continue to benefit from an attractive bonus period.

From Saturday 29 September 2007 there are twice as many reasons to open a savings account with Chelsea, the UK’s fifth largest building society.

Commenting on Coventry Building Society extending its esaver account to the over 50s, Kevin Mountford, head of savings at price comparison site moneysupermarket.com, said:

Coventry Building Society is extending its highly successful Sixty-Plus eSave account to the over 50s.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “As the fixed rate market stabilises, with the top rates available just shy of 7% and the variable market showing signs of hotting up, the tides have started to turn.

AA Savings has today launched a new, ‘no-strings’, best-buy Internet savings account, called the AA Internet Access Account.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “For some time, Sainsbury’s and Icesave have led the way offering 6.25% and 6.2% respectively no strings internet accounts.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “ING increased rates for its savers (Savings Account) to 5.13% gross, an increase of 0.24%. This is good news for ING savers who have recently seen their rate fall behind the market following the failure to respond to 2 base rate rises over the last year.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “The fixed rate savings frenzy fizzled out almost as quickly as it started, with three out of the five best buy rates being withdrawn this week, and rates falling below 7% once again.

Savers spoilt for choice when it comes to top paying accounts – Sainsbury's urges them to think about the account that best suits their needs.

Commenting on the launch of the Bradford & Bingley esavings account, paying 6.4 per cent AER, Kevin Mountford, head of savings at price comparison website moneysupermarket.com, said: