Lifetime Isa deposits hit £1bn for the first time in 2020

The amount of money saved into Lifetime Isas more than doubled last year as deposits into tax-free accounts aimed at first-time buyers topped £1billion for the first time. In a sign the Lifetime Isa is becoming increasingly popular, the number of accounts which received deposits in 2019-20 also more than doubled to 545,000, according to … Read more

Lifetime Isa deposits hit £1bn for the first time in 2020

The amount of money saved into Lifetime Isas more than doubled last year as deposits into tax-free accounts aimed at first-time buyers topped £1billion for the first time. In a sign the Lifetime Isa is becoming increasingly popular, the number of accounts which received deposits in 2019-20 also more than doubled to 545,000, according to … Read more

Lifetime Isa deposits hit £1bn for the first time in 2020

The amount of money saved into Lifetime Isas more than doubled last year as deposits into tax-free accounts aimed at first-time buyers topped £1billion for the first time. In a sign the Lifetime Isa is becoming increasingly popular, the number of accounts which received deposits in 2019-20 also more than doubled to 545,000, according to … Read more

Metro Bank cuts interest it pays on its savings accounts

Metro Bank cuts interest it pays on its savings accounts – and experts advise customers to shop around By Jeff Prestridge, Financial Mail on Sunday Published: 21:50 BST, 12 June 2021 | Updated: 21:50 BST, 12 June 2021 Metro Bank has taken an axe to the interest it pays on its savings accounts.  In a … Read more

Hit by the savings tax trap: Double whammy of low rates and HMRC delay

More than 700,000 savers could be paying too much tax after interest rates plunged to record lows. It is yet another blow for beleaguered savers already struggling to earn an income from their nest eggs.  And long delays at HM Revenue & Customs (HMRC) means anyone attempting to correct their tax code and claw back … Read more

Third of parents are losing hundreds in interest by stashing kids’ savings in current accounts

Parents saving for their children could be starving them of a sizeable savings pot by the time they turn 18, as research reveals many are failing to take advantage of higher-rate savings accounts. Some 34 per cent of parents have saved for their children in often low interest paying bank accounts over the last 12 … Read more

Could Premium Bonds be cut? £20bn has been poured in over the last year

Britons with more money to save over the last 12 months have piled £20billion into Premium Bonds since the first full month of lockdown last year, new figures from National Savings & Investments revealed today. The latest prize draw results from the Treasury-backed bank said there were 109.2billion eligible bonds in this month’s draw, which … Read more

Could Premium Bonds be cut? £20bn has been poured in over the last year

Britons with more money to save over the last 12 months have piled £20billion into Premium Bonds since the first full month of lockdown last year, new figures from National Savings & Investments revealed today. The latest prize draw results from the Treasury-backed bank said there were 109.2billion eligible bonds in this month’s draw, which … Read more