Savings News

£17.5m today is equivalent to £1m in 1958

Someone would need £17.5 million today to enjoy the equivalent lifestyle of a person with £1 million half a century ago, according to the Halifax.

5 million Brits believe they're on course to becoming a millionaire

Hope springs eternal for millions of Brits who, despite the current economic turmoil, still believe that one day they'll achieve millionaire status. Indeed, latest research from Cater Allen Private Bank, finds that an ambitious 5.4 million Britons expect to reach the millionaire landmark in their lifetime.

Alliance & Leicester reviews savings rates

Martin Leake, Manager for Savings at Alliance & Leicester said: "We offer a number of savings accounts, which will continue to pay above the Bank of England Base Rate, including eSaver (6.30% AER) for long term savings and Online Tracker (6.00%) for instant access without any penalties, as well as Easy ISA (5.50%) for tax free savings.

Many Landsbanki savers still facing massive losses

Over 2,000 mostly British savers are staring financial disaster in the face as they fail to benefit from the Government’s Landsbanki rescue package, says the Landsbanki Depositers Action Group.

Savers head for safe havens and good value for money products

Leeds Building Society has seen healthy savings inflows throughout the year, with September and October further strong performances.

FSCS confirms 2.3 million SAYE savings accounts are protected

ifs ProShare, which acts as the voice of the employee share ownership industry in the UK, has welcomed the fact that over 2 million participants in Save As You Earn (SAYE) share plans are to have their savings protected by the Financial Services Compensation Scheme (FSCS).

Post Office customers cash in on Christmas Club

From Saturday (1 November), thousands of people who have been putting money away all year with the Post Office Christmas Club will be able to reap the benefits of Christmas budgeting as their club cards are unlocked for use at thousands of UK retail outlets.

20 million homes can't afford to save as recession bites

Only the richest portion of society can still afford to set aside savings, according to new research by AXA.

uSwitch.com adds savings and travel insurance comparison

uSwitch.com, the independent price comparison and switching website, is expanding its range of services, with the launch of two new comparison channels - savings and travel insurance. Both channels are now live on the uSwitch.com website.

Life begins at 40?

Despite the age old saying that life begins at 40, the latest research from online broker, Selftrade, reveals that this is in fact, the most stressful stage in life for Brits – more than eight in ten forty year olds say they are currently struggling with both personal and financial problems (82%).

How safe are my savings?

Recent events in the global financial markets have shaken the confidence of savers, with many panicking about the safety of their cash deposits.

Compensation on the way for Icesave customers

The more than 200,000 retail depositors with savings in Icesave UK, the topped up retail deposit business of the UK branch of Landsbanki, will get back their savings through an accelerated process, announced the Financial Services Compensation Scheme.