|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 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




Interest rates on savings begin recovery

Bookmark and Share

by David Masters
”Interest

Interest rates paid to savers are on the road to recovery following months of gloom, Moneyfacts.co.uk said this week.

A number of providers have increased rates or launched new competitive accounts, the price comparison website said.

“Savers have received nothing but bad news of late and it looks like things have finally turned a corner,” said Moneyfacts.co.uk analyst Michelle Slade.

Thirty five fixed-rate bonds now offer rates above 4.00%, compared to just two at the beginning of April.

Whilst most of these are two year bonds, West Bromwich Building Society is paying 4.30% on its 13 month bond.

Variable rate savings accounts have also improved, with Stroud and Swindon Building Society increasing rates by up to 0.6% on its postal account, and by up to 1.35% on its 30 Day Notice account.

Chris Eagle, commercial manager at CreditChoices.co.uk, said: “Savers have been suffering for too long with low rates and dismal returns.

“Hopefully we will see more providers follow suit and banks will once more compete for our savings with a rates war.”

Discuss this in the Finance Markets forums

Story link: Interest rates on savings begin recovery



News posted: April 27, 2009

Financial Services:





Related financial stories to: Interest rates on savings begin recovery:
Previous: «
Next: »

Visited 3221 times, 1 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: , , , ,