News Tag: 3%
April 6, 2009
Santander-owned Alliance & Leicester (A&L;) has launched a new individual savings account (ISA) designed to attract customers who may have been put off saving by the current climate of low interest rates.
The one-year fixed rate bond ISA pays interest at 3.00% tax free, with the account maturing on 1 May 2010.
Minimum deposit is £500, and transfers from existing ISAs are ...
Alliance & Leicester announces 3% fixed-rate ISA
by David Masters
March 18, 2009
Fewer than 4% of instant access savings accounts pay AER at 3% or above, according to new research from Sainsbury's Finance.
A survey of accounts by the supermarket bank found that just 14 of the 367 instant access accounts currently available in the UK pay interest of 3% or more on balances of £5,000.
The average interest rate paid by ...
Only 1 in 25 savings accounts pays 3% interest
by David Masters
March 4, 2009
Abbey has launched a new issue of its instant access saver account, paying interest at 3% gross/AER.
This is equivalent to 2.4% after tax. It should be noted that the 3% rate includes a 1.5% bonus for the first 12 months.
Savers can invest anything from £1,000 to £2 million, and can make an unlimited number of withdrawals without incurring any penalty.
The ...
Abbey’s new instant access saver pays 3%
by David Masters
February 25, 2009
Halifax this week launched the ISA Direct Reward, a new individual savings account with interest guaranteed at 3.00% AER/Gross for the first 12 months.
The ISA requires a minimum deposit of £1,000, which must be maintained throughout the 12 month period.
Unlimited deposits up to the £3,600 tax-free allowance are allowed, but withdrawals are limited to four in the first year.
Customers can open the ...
Halifax unveils 3% fixed-rate ISA
by David Masters
February 5, 2009
Abbey launched a number of new savings accounts this week, including new issue bonds and a Super Saver account.
The new bonds pay gross interest at a fixed rate of 2.25% for one year, or 3% for three years.
Both options pay more than the current Bank of England base rate.
The new 12-month Super Saver pays gross interest at 5% for one year.
Customers can ...
Abbey issues 5% Super Saver
by David Masters
November 6, 2008
Leading lenders withdrew tracker mortgages just hours before the Bank of England's Monetary Policy Committee agreed an historic 1.5% cut in the base rate, to 3%.
Lloyds TSB and its Cheltenham & Gloucester (C&G;) unit, Northern Rock and Woolwich have all withdrawn tracker products today.
Yesterday, the Council of Mortgage Lenders (CML) warned that lenders would not necessarily ...
Tracker loans whisked away as base rate cut to 3%
by Gill Montia
