Banks are cutting the number of their accounts, but it’s mixed news on rates with some up and some down

The increase in the number of providers simplifying their savings ranges will be a relief to some, but a disappointment to many. This year sees heavyweights Lloyds and Halifax joining the likes of Barclays, Santander and NatWest in reducing the number of ‘legacy’ savings accounts. Since 2013, 13 providers have simplified parts of their savings […]

4 February 2015 by Anna Bowes

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Secure Trust Bank launches two new bonds. But it’s just about the only positive piece of news

Secure Trust Bank has launched two new bonds, a 5 Year Fixed Rate Bond (Series 15) paying 3.03% and 7 Year Fixed Rate Bond (Series 14) paying 3.11%. Just about the only piece of positive news this week, as both of these bonds pay market leading rates for their respective terms, despite the fact that […]

2 February 2015 by Anna Bowes

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The Bank of England suggests raising savers’ protection to £1 million. What are the implications and why now?

The Bank of England has released a proposal paper to help better protect savers and smooth concerns in the savings market. Among the four proposals are details to increase depositor’s protection from £85,000 up to £1million but only for temporary savings.  The new Temporary High Balance (THB) protection will protect savers for up to 6 […]

7 October 2014 by Anna Bowes

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It’s the new challenger banks driving rates in the fixed rate bond market

Savings rates have been on a downward spiral for years, not least since the Bank of England base rate hit 0.5% over 5 years ago, but also following the introduction of the Funding for Lending scheme in 2012. The continual drop in best buy rates painted a bleak picture and it seemed to be never-ending. […]

28 April 2014 by Anna Bowes

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It may make sense to save with Co-operative Bank/Britannia. Just don’t save more than £85,000 with one bank

The losses announced by Co-op Bank will no doubt leave some savers cold, not least its members, including savers with Britannia. However, they are not the first to show signs of financial difficulty in recent years. Unsurprisingly Britannia has recently been offering some market leading rates to savers and those with less than £85,000 shouldn’t […]

24 April 2014 by Anna Bowes

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Rates are low but it’s still worth taking out a cash Isa this year

With the outlook seemingly bleak, savers are asking whether using their cash ISA is worthwhile, especially when there are high interest rate current accounts that pay better interest, even after basic rate and 40% tax has been deducted. The problem is that if you don’t use your ISA allowance within each tax year, you lose […]

26 February 2014 by Anna Bowes

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Yet another ‘customers-only’ Isa offering this time from HSBC

As we approach the start of the ISA season we wait with baited breath to see what providers will do in terms of new and competitive ISA products. Traditionally we expect to see providers launch their leading ISA for the year as we near the end of the tax year. HSBC has kicked things off […]

19 February 2014 by Anna Bowes

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NS&I – the surprising star fades

How the savings landscape has changed. Recent weeks have seen the Government backed National Savings and Investments (NS&I) Income bond and Direct ISA sitting comfortably near the top of our best buy tables; the first time for the Income Bonds, as far as we are aware. But NS&I has a unique protection that no other […]

18 June 2013 by Anna Bowes

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