Savings News

Dramatic drop in investor confidence

The most recent wave of research from Standard Life has shown a significant fall in confidence in the savings and investment market.

Blink and you may have missed it

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “Just 14 days after its launch, Coventry BS has announced the withdrawal from sale of its market leading Online Saver account.

Pensions are second best for retirement savings

A basic rate taxpayer accrues benefits in a personal pension plan 8% greater than using an ISA, according to recent research by Hargreaves Lansdown. HL argues that this makes pensions better value. The facts show that most people don’t agree.

NS&I interest rate reductions

NS&I (National Savings and Investments) will be decreasing the interest rates on a range of its fixed rate savings offers by up to 0.65% per annum on 28 November 2007.

Brits fall out of love with the old-fashioned love letter

Britons have fallen out of love with the love letter, with fewer than one in five (17%) receiving a letter from an admirer in the past 12 months and only 28% receiving a love letter in the last five years, new research by Bradford & Bingley has revealed.

Almost-a-grand parent

Parents estimate that they save £900 a year on the cost of bringing up their children thanks to the generosity of their own mum and dad (their children’s grandparents) according to new research.

Post Office to launch new Christmas Club

The Post Office has announced plans to launch a new Christmas Club offering customers a secure and convenient way to save for Christmas 2008, with additional membership rewards that will increase their spending power.

OFT announces extra funding for 'save Xmas' campaign

The OFT has awarded an additional £80,000 to Citizens Advice to assist in the delivery of the Save Xmas campaign.

Savers spread their money in Northern Rock fallout

Some 1.7 million Britons have transferred funds from their savings accounts since the Northern Rock crisis began on September 14th amounting to almost 50,000 people per day, according to research from MoneyExpert.com.

Nearly 19 million savers oblivious to rate of interest

With some savings accounts paying the highest rates of interest the market has seen for around six years, Sainsbury’s is urging savers to make sure that they check the rate paid on their account to make sure it is competitive.

Cash quarrels put pressure on families

The state of the economy is putting a strain on families as Brits are increasingly becoming financially indebted to their nearest and dearest.

Britain’s cash savings could reach £1 trillion by 2012

Britain’s savings have nearly doubled since the turn of the Millennium, with balances up £426 billion – five times the increase in unsecured borrowing (£79 billion). This trend is likely to continue according to Alliance & Leicester Savings, with over a third (39%) planning to increase their savings balances over the next five years.