Signs of ‘slight green shoots’ amid savings gloom as challenger banks launch new best buy fixed-rates Savings rates on all accounts have collapsed since March due to coronavirus Over the last few weeks some banks have upped their fixed-rates Experts say these ‘baby steps’ suggest a ‘slight revival’ in fixed-rate bonds By George Nixon For … Read more
‘Open a savings account for rehab!’ Stevie Nicks, 72, warns aspiring musicians to set aside $30,000 for battling future addictions By Gillian Fisher For Mailonline Published: 12:23 BST, 2 August 2020 | Updated: 12:35 BST, 2 August 2020 Rock legend Stevie Nicks has advised future stars to start saving up for rehab now and put … Read more
A decade of misery for Britain’s savers has been capped off by cuts to easy access rates which now mean that savers can get no more than £1 interest for every £10,000 saved at any of the High Street banks. Barclays has followed HSBC, Lloyds Bank, NatWest and Santander in slashing the rate on its … Read more
Around two in five have saved more than they usually would in recent months as a large chunk of day-to-day expenses disappeared during lockdown, a survey by Britain’s biggest building society shows. A similar number will continue with the new found savings habit, despite the dramatic drop in rates on offer from all ranges of … Read more
ALEX BRUMMER: Treasury turns to the people for help by relaxing the rules for National Savings & Investments By Alex Brummer for the Daily Mail Published: 21:51 BST, 16 July 2020 | Updated: 22:03 BST, 16 July 2020 A great mystery of the financial universe is why HM Treasury has not made more effort down … Read more
Falling savings rates and rising inflation mean 100 fewer accounts beat CPI this month as the ONS reveals it ticked higher for first time this year Inflation ticks up to 0.6% in June compared to 0.5% in May Coupled with continued cuts to savings rates – 450 accounts now beat it This is likely to … Read more
Savers across the country have stashed away a record £157 billion during lockdown after many day-to-day expenses disappeared. But as restrictions ease, with pubs, restaurants and non-essential shops now open, most will see their outgoings begin to creep up again as the economy starts to recover. So as you start to spend again, Money Mail … Read more
Some of Britain’s biggest banks have slashed the returns on children’s savings accounts just months after the Chancellor handed parents a boost to the tax-free Junior Isa allowance. Halifax and Lloyds Bank cut Junior Isa rates from 3 per cent and 2.5 per cent to 2.45 per cent and 1.95 per cent respectively in a … Read more
Cash Isas loose their sparkle: Dismal returns mean you can now earn more with an ordinary savings account By Sylvia Morris For The Daily Mail Published: 22:01 BST, 7 July 2020 | Updated: 22:01 BST, 7 July 2020 Savers are pulling cash out of Isas at a record pace after rates plummeted. The dismal returns … Read more
Experts have warned that hard-up savers face more misery with providers likely to shave even more off the tiny returns currently on offer. Bankers and industry experts said the combination of a record low base rate of 0.1 per cent, cheap Bank of England cash in the form of quantitative easing, a fall in mortgage … Read more