Savings News
University debt – a pointless waste of time and money
Faced with tuition fee hikes and growing debt, almost one in four young adults consider taking on debt to go to university to be a pointless waste of time and money according to new research from Engage Mutual Assurance.
OFT 'save xmas' campaign comes to Scotland
Following the collapse of the Farepak Hamper company last year, the OFT is launching a pilot scheme in Scotland on Friday (July 27) to help consumers decide how best to ensure they can afford to pay for Christmas.
Britain’s balance sheet favours savers 4:1
Britain’s savers have salted away £820 billion. Our favourite asset, our homes are valued at £4.3 trillion in total. Together this makes up £5.1 trillion - dwarfing the debt mountain of £1.3 trillion that we hear so much about.
National Savings and Investments rate changes
National Savings and Investments (NS&I) is increasing the interest rates on a wide range of its variable savings offers by up to 0.25% per annum.
Pocket money rises 600% in 20 years
Children receive an average of £8.01 per week in pocket money, an increase of over 600% since 1987, according to new research from Halifax's 20th Anniversary Pocket Money Survey. Halifax, the UK's largest savings provider, has been conducting research into children's pocket money since 1987.
Dramatic rise in inequality
A new way of comparing poverty and wealth trends across Britain shows inequality has reached levels not seen for over 40 years, according to research by the Joseph Rowntree Foundation.
Moneyfacts launches best buy charts for savings accounts
Moneyfacts has been at the forefront of providing consumers with best buy information for more than 16 years. During this period the savings industry has changed beyond all recognition with increased competition from many new entrants who have made their mark on the territory once dominated by a few big high street players.
Keeping up with the Beckhams is a recipe for poverty
People are living for today at the expense of tomorrow with payments on designer goods, cosmetic surgery and alcohol dwarfing the amount of money people set aside for their old age.
Chelsea launches two new Fixed Rate Options
Chelsea Building Society has launched two new Fixed Rate Options effective from Saturday 14 July 2007.
Brits shopping their way towards retirement misery
As Prime Minister Gordon Brown puts affordable housing centre stage this week and the Conservatives advocate policies to "heal a broken society", leading investment house, F&C, is reminding policy makers to address the crisis in personal savings.
NS&I Direct ISA interest rate rises to 6.30%
The interest rate paid on NS&I's Direct ISA will rise from 6.05% per annum to 6.30% following the increase in the Bank of England base rate by 0.25%.
Branch based savings are back in vogue
Rachel Thrussell, Head of savings at Moneyfacts.co.uk, comments: “As part of the Bradford & Bingley revamp, the What IF? Saver was launched paying a best buy rate compared with other branch-based accounts of 5.50% (min deposit £2K).
Bradford & Bingley’s new account range
Rachel Thrussell, Head of savings at Moneyfacts.co.uk, comments: “Bradford & Bingley has performed a major revamp of its savings range, withdrawing accounts such as First Choice, Premier Saver, Premier Tracker and Premier Additions and replacing them with new accounts with differing rates and terms.
Chelsea Building Society launches new Fixed Rate Options
Chelsea Building Society will launch two new Fixed Rate Options effective from Wednesday 4 July 2007.
Nation’s cash sits idle in current accounts
Adults in the UK are collectively missing out on hundreds of millions of pounds in interest each year because they have billions of pounds lying idle in low paying current accounts.