Savings
NS&I holds premium bond prize fund rate
NS&I has announced that it is holding the current Premium Bond prize fund rate at 1.8% (the rate implemented after the November base rate change last year) for at least the February and March 2009 prize draws.
Inflation and tax ravage already meagre returns for savers
The latest inflation (Consumer Price Inflation) figure announced today gives an annual inflation rate of 3.1%.
Legal & General launches Growth Investment Plan Plus (18)
Legal & General's latest product in its capital protected investment range, Growth Investment Plan Plus 18, is launched to independent financial advisers on 17 January and will be available for investment until Friday 27 February 2009.
Savings account designed to help first-time buyers
A major new savings account - designed to help first-time buyers gain a foothold on the East Midlands property ladder – has been launched by The Nottingham.
Bank of Cyprus UK expands fixed term bond range
Bank of Cyprus UK has announced the launch of two new fixed term bond products. A three year bond paying 4.35% AER/gross p.a. is now available along with a shorter term nine month bond paying 4.12% AER / 4.10% gross p.a.
Savings accounts become more reliant on bonuses
Savings accounts have become much more reliant on the use of bonuses to inflate their headline rates, according to research from Investec Private Bank (‘Investec’).
The rewarding savings account from Newcastle Building Society
Newcastle Building Society still has availability for new investment on its Reward Saver and ISA account paying a variable rate of 3.50% Gross, which includes a 1% bonus for the first 12 months.
As base rate is cut, savers' optimism falls
The base rate reductions in October, November and December last year appear to have had an impact on consumers' desire to save and their opinion on whether the Government is doing enough to encourage people to put money aside.
Leeds launches new fixed rate savings bonds
Leeds Building Society has launched a new range of fixed rate bonds for 1, 2 and 3 years that combine a competitive return of up to 3.75% gross p.a./AER, combined with instant access to 25% of the balance, without notice or penalty at any time.
Savings accounts disappear
Banks and buildings societies have withdrawn almost a quarter of all savings accounts and slashed average interest rates despite being desperate to attract more cash from savers, according to MoneyExpert.com.
Brits continue to use savings accounts despite poor interest rates
Brits continue to save their cash despite the credit crunch and worsening recession, a survey from Fairinvestment.co.uk has revealed. And results from the survey show the average total amount saved per person is £2,813.
Savers punished for doing it by the book
Customers who insist on a passbook with their savings account are suffering the most as rates are slashed in response to Bank of England base rate cuts, according to analysis by MoneyExpert.com.
Alliance & Leicester announces new Super Saver
Alliance & Leicester has launched a new Super Saver product, offering a great return on investment for its customers. The Super Saver product is a limited edition, 12 month fixed rate account, offering 5.50% if customers put an equal amount or more into any of Alliance & Leicester's range of investments, which includes guaranteed capital products.
Savers suffer but annuities remain high
Comment from Craig Fazzini-Jones - Director and Head of MGM Advantage Designs for Retirement: The latest interest rate cut is sure to increase the anxiety about savings and investments, but for those considering retirement right now, here's what they need to know:
Abbey launches new issue of Fixed Rate Monthly Saver
Abbey this week launches new issues of its popular Super Fixed Rate Monthly Saver and Fixed Rate Monthly Saver, offering some of the best rates on the high street, despite the falling interest rate environment.