Savings News
Nationwide announces new savings rates
Nationwide Building Society has announces details of its new savings rates, which come into effect on Wednesday 1 April 2009. A new Two Year Tracker ISA is also being launched paying up to 2.50% gross p.a./AER, offering savers a significant premium above the Bank of England Base Rate.
More Brits saving for bricks and mortar
New research from Birmingham Midshires' Saving Britain campaign shows a 29 per cent increase in the number of British savers putting money aside for a deposit on a house.
Brits split savings into more than one investment product
Following the bailout of both HBOS and Royal Bank of Scotland and stock market volatility, research from Fairinvestment.co.uk has found that 57 per cent of Brits with savings have split them into more than one investment, minimising risk.
NS&I changes premium bonds prize structure and variable rates
NS&I has announced that from the April prize draw onwards one of the two monthly Premium Bond jackpot prizes of £1 million will be replaced by a wider mix of prizes in the monthly draws, allowing more people to win but still retaining the chance of winning the £1 million jackpot prize.
How do you save yours?
Andy McQueen, savings and mortgages director at Nationwide, offers tips on how to get into the savings habit.
Credit crunch caution, Brits save any extra cash
Brits are taking a cautious approach to their cash during the recession, research from Fairinvestment.co.uk has found.
Where is the interest in savings?
56% of Britons are still visiting the high street to manage their savings despite the fact direct online brands offer consistently high rates in the best buy tables and what’s more, a third of Britons (33%) keep their life savings in a basic current account according to new research from HiSAVE, the online savings brand from ICICI Bank.
NS&I's new DIY five-step, financial check
NS&I is launching a new online feature, The Five Questions, featuring Sir Alan Sugar, to encourage the British public to give their personal finances a much needed health check.
2009 Budget needs incentives for people to save
The Association of Independent Financial Advisers (AIFA) has called on the Government to use the April Budget to provide people with the incentives they need to invest in their long term financial well-being.
Offsetting is the new savings
As savings rates head for 0%, new research from uSwitch.com reveals that almost 1.9 million consumers would look to offset savings against their mortgage in a bid to secure a decent return.
Rates more than halve on regular savings
Regular savers have seen rates on their accounts more than halve over the past year to just 2.64% and there’s more pain to come, new analysis from MoneyExpert.com shows.
The typical 2009 saver
British savers are currently managing to put aside an average of £163 each month, according to research by Abbey Savings; which today launches the first of a series of profiles capturing the savings status of the nation.
Quitters can save £157 billion from going up in smoke
Over one million British smokers are expected to use the credit crunch as a great excuse to ‘packet in' on No Smoking Day, 11th March 2009. And according to Abbey Savings, if they all succeed they'll save a ‘breathtaking' £1.57 billion in the next twelve months, some £1569.73 each.
Consumers de-prioritise savings
The proportion of people who think saving is important has been falling gradually since last summer. Latest research from Nationwide Building Society reveals just over half (57%) of consumers think saving generally is important compared to two thirds (66%) in July 2008.
A&L launches new guaranteed investment products
Alliance & Leicester is offering a new range of guaranteed investment products with the security of a capital guarantee if held for the full term and a minimum return at the end of the term.