|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




Barclays vows to protect savers against rate cuts

Bookmark and Share

by David Masters
Barclays vows to protect savers against rate cuts

Barclays has vowed to protect its savings account holders following the Bank of England’s base rate cut last week.

The interest rate on Barclays savings accounts will be held unchanged despite the Bank of England cutting the base rate to a new record low of 0.5%, the bank said.

The bank also pledged to help borrowers by passing on the full rate cut to tracker mortgages customers at its mortgage business, Woolwich.

Mark Parsons, Barclays managing director of mortgages, current accounts and savings, said: “We recognise the difficult position many households are in at this time of financial uncertainty.

“Whilst mortgage holders are thrilled to see a historically-low base rate, savers are suffering – and it is important that the needs of both groups are balanced.”

Discuss this in the Finance Markets forums

Story link: Barclays vows to protect savers against rate cuts



News posted: March 9, 2009

Financial Services:





Related financial stories to: Barclays vows to protect savers against rate cuts:
Previous: «
Next: »

Visited 4208 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,