Savings
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.
The Nottingham launches Child Regular Saver (issue 8)
A new high interest-bearing savings account - catering for the needs of children aged 16 or under – is now available at The Nottingham.
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.
Yorkshire Building Society aims to protect savers after rate cut
Yorkshire Building Society has expressed disappointment at the Bank of England's decision to reduce base rates by a further 0.5% today.
10% of savings providers cut rates by more than 0.5%
On the eve of what could be the lowest rate in the Bank of England's 315 year history, savers continue to suffer as providers cut rates by as much as 1%. New research from uSwitch.com shows that just four days into March and 41 providers have already cut rates by an average of 0.50%.
Standard Life Investments bond funds shine at Lipper Awards
The performance of leading global investor, Standard Life Investments' bond range has been recognised by winning two prestigious Lipper Fund Awards.
Investors turn to bonds as confidence nosedives
Confidence in nine out of ten major investment sectors including UK equities, Emerging Markets, Cash and Commodities has plummeted dramatically, according to the latest Virgin Money Investor Intentions Index.
Savers should turn to shares for better returns
The Bank of England is widely expected to cut rates by half a percentage point to 0.5% on Thursday. David Kuo from the financial website The Motley Fool - Fool.co.uk - is urging savers to look to the stock market to lessen the pain caused by the Monetary Policy Committee's addiction to rate cuts.
Principality launches new regular saver bond
Principality Building Society, Wales' biggest building society, is celebrating St David's Day with the launch of a new regular saver bond that offers 4.50% AER, fixed for a year.
Abbey introduces Instant Access Saver (issue 3)
From today, Monday 2nd March, Abbey Savings launches a new issue of the popular Instant Access Saver. The account pays a competitive 3.00 per cent gross/AER, which includes a 1.50 per cent bonus for the first 12 months. The minimum balance is £1,000 with a maximum of £2 million.
Skipton launches 4 Year Fixed Rate Bond
Skipton Building Society has launched a 4 Year Fixed Rate Bond. Aimed at savers looking for a medium-term home for their money, it offers 4.0% gross pa and a monthly income option of 3.90% gross pa. It is also available online.
Sainsbury’s internet saver account offers 3% gross AER
Sainsbury's Finance is offering a rate of 3% Gross AER on its Internet Saver to customers opening the account with between £5,000 and £100,000.