Savings News
Generous over 50s saving for grandchildren
Despite the difficult economic climate 1.8 million grandparents (13%) are putting money aside for their grandchildren, research from Saga Savings reveals.
Savings reach record high in spring 2009
This spring, the amount the population is saving is higher than ever recorded in NS&I's Quarterly Savings Survey - which has been running for almost five years.
Savers benefit while borrowers suffer
As the cost of fixed rate mortgages continues to rise, so do the rates on fixed rate bonds as providers look to their savings book for funding rather than the money markets.
Talk that inflation is dead is greatly exaggerated
According to the Office for National Statistics, the Consumer Prices Index (CPI) rose by 2.2% in April down from 2.3% in May; the Retail Prices Index (RPI) fell 1.1% in May less than the 1.2% drop in April.
Cater Allen launches new structured products
Cater Allen Private Bank has launched its latest structured products that are linked to the performance of the FTSE 100 index and will pay up to 30 per cent return on maturity on any rise in the index regardless of how small that rise may be.
Interest rates may remain low but your savings rates don't have to
Following the announcement that the Bank of England base rate will remain at just 0.50 per cent, Santander's UK savings businesses this week encourage savers to make sure they're getting the best out of their savings accounts.
HSBC and LGII provide structured deposits with capital protection
In an innovative response to savers' concerns over declining interest rates, Legal & General International (Ireland) Limited (LGII) is working with HSBC Bank plc to provide a series of structured deposits.
The Co-operative launches capital protected structured product
The Co-operative Investments has entered the structured product market with the launch of a capital protected investment that guarantees a 40 per cent return on maturity providing the FTSE100 is no less than its current level in six years time.
Brits failing to make the most of summer savings
Much of the British population is failing to make the most of money saved on household bills and outgoings during the summer months as the increased sunshine makes them forget their budgets and spend more on having fun, according to the latest NS&I (National Savings and Investments) Quarterly Savings Survey.
ASDA share scheme pays out £43m bonus to colleagues
Today ASDA announced that over 16,500 colleagues will share in a £43million payout thanks to the company's Sharesave plan.
Barriers to saving increase as personal debt continues to rise
Research from the third annual Scottish Widows Savings and Investment Report reveals the nation's savings behaviour is being severely affected by this year's unprecedented economic environment.
Leeds Building Society donates £24,000 to Leeds Rugby
Leeds Building Society presented Leeds Rugby with a cheque for £24,505 at the Leeds Rhinos home match against Hull F.C. on 26 May at Headingley Carnegie Stadium.The £24,505 cheque relates to 1 per cent of the total balances in the Blue and Amber account for 2008.
Which? accuses building society of coaxing savers into risk
Which? has criticised West Bromwich Building Society for encouraging savers to start investing at the Financial Services Compensation Scheme's (FSCS) £50,000 limit.
Average amount Brits save each month is £120
British savers are currently managing to put aside an average of £120 each month, £43 less than the average three months ago, according to research by Abbey Savings, as part of its Quarterly Savings Snapshot. This is the second of a series of profiles capturing the savings status of the nation in 2009.
Double boost for savers with lower CPI and higher fixed rates
Now that CPI has fallen from 2.9% in March to 2.3% in April, savers, whether they be basic or higher rate taxpayers will at last be to able find an account where they can preserve the spending power of their nest egg.