Savings News
Savers not geared up for change in ISA limits this April
Thousands of consumers could potentially lose out on their tax free allowance from the start of the new tax year.
Savers pay £13bn extra tax
The failure of UK savers to use their full ISA allowance could have cost them an estimated £13 billion, according to research by Clydesdale & Yorkshire Banks.
Savers claim £385m is stored in the nation's penny pots
Research from personal finance product comparison website, money.co.uk, has revealed that 63% of UK households store excess loose change in a pot or jar. On average, the nation's shrapnel savers claim to have £24.54 squirreled away - to be converted to ‘real money' and spent at a later date.
More misery for savers as inflation bites
Today's announcement by the Bank of England that inflation figure has hit 3.7 per cent spells further misery for savers with only a handful of savings products now paying high enough interest to offset the effects of inflation.
Inflation makes it really tough for savers
The latest annual inflation figures of 3.7% for the Retail Prices Index (RPI) and 3.5% for the Consumer Prices Index (CPI) mean that both basic and higher rate taxpayers face a near impossible struggle to get a real rate of return on taxable savings accounts.
Savers can only watch as CPI enters a deeper vortex
The consumer price index again rose even sharper to 3.50%, nearly double the Government's target of 2%.
More bad news for savers
The decision of the Monetary Policy Committee to hold the bank base rate at 0.50% prolongs the period of poor returns for savers.
76% will not invest in cash while base rate remains at 0.5%
While the Bank of England's decision to keep the base rate at 0.5% for the 11th consecutive month is unarguably the only realistic option, 76% of investors have had enough of dismal savings rates, saying they are not interested in investing in cash.
Low interest rates prompt rush for risk assets
Financial advisers are predicting a significant return to the stock market in 2010, with almost three quarters (72 per cent) expecting an increase in the number of clients looking to invest in equities over the coming 12 months, according to new research commissioned by Prudential.
Over-50s get back into ISAs
Investors aged 50-plus have more than doubled lump sum contributions into share-based Individual Savings Accounts in response to the Government's increase in ISA allowances, new analysis from Virgin Money shows.
Brits increase savings pot
New research from Birmingham Midshires' Saving Britain campaign suggests Brits have increased the amount they are saving on a quarterly basis by 136% compared to this time last year.
Women savvier with the way they spend and save
Retailers might be disappointed to learn that new research by The Co-operative Bank Savings reveals that three quarters (75%) of women will not be splashing out on impulse buys this year.
Simple household checks that can save you money
As the snow thaws across most of the UK and more cold weather arrives, householders need to take immediate action even if they were fortunate enough to avoid an escape of water during the recent cold snap.
£3 million already saved for Christmas 2010
With 339 shopping days until Christmas, Yorkshire's members have already saved over £3m in the Society's Christmas Saver account which pays a fixed interest rate of 3.50% gross/AER.
Post Office launches new Growth Bond and Fixed Rate Cash ISA
The Post Office has launched two new competitive savings products to cater for the varying needs of today's savers.