News Tag: interest rate
March 17, 2010
ISA investors are "disillusioned" with the returns they are receiving on their savings, Barclays claimed this week.
The bank blamed the frustration on historically low interest rates.
The 0.5% base rate has caused many investors to rethink their approach to the financial marketplace, Barclays said.
Research by the bank found more than two-thirds (72%) of investors have changed their outlook because of the low interest rate environment.
A similar number (72%) ...
Savers “disillusioned” with ISA returns
by David Masters
January 4, 2010
Figures published today show that people in the UK continue to repay debt as the incentive to save remains low in the current historically low interest rate environment.
According to the Building Societies Association (BSA), its members withdrew more money than they saved for the ninth consecutive month in November.
The BSA said there was a net withdrawal of ...
Savings continue to fall as consumers opt to repay debt
by Kay Murchie
November 9, 2009
A study called “Precious Plastic” by accountancy firm PricewaterhouseCoopers (PwC) has found that while there has been a "cooling passion" for credit cards, bad credit card debts could jump as much as 9% of all outstanding balances by the end of 2010.
According to Richard Thompson, a partner at PwC, over the last year, “there has been a cooling passion ...
PwC expects hike in bad credit card debts
by Kay Murchie
September 2, 2009
Santander plans to discontinue the 6% current account at its UK banks.
The 6% + 6% offer, which pays new Abbey and Alliance & Leicester customers 6% interest on their current account and on monthly savings, will close later this week.
Savers taking maximum advantage of the offer could earn nearly £250 interest in the next 12 months.
"This cracking deal is about to ...
Santander to close 6% current account
by David Masters
August 26, 2009
Barnsley Building Society has launched a range of new Online Bonds paying interest at a fixed rate of up to 5.4%.
The three, four, and five year bonds pay a gross/AER rate of 5%, 5.15%, and 5.4% respectively.
Minimum balance to open the bonds is £100, and maximum is £500,000.
Sarah Lawrence, Barnsley's senior product manager, encouraged savers to "act quickly" because the bonds could be ...
Barnsley launches 5.4% e-bond
by David Masters
August 11, 2009
Lloyds TSB International this week launched its Bonus Saver Account aimed at British ex-pats and customers who make frequent cross-border transactions.
The account offers no-penalty instant access, and is available in either euros or sterling.
Savers can invest up to £1 million or €1 million.
Sterling accounts with a balance of £5,000 or above benefit from a 12-month introductory bonus of 0.5% interest, ...
Lloyds TSB International launches instant access saver
by David Masters
July 16, 2009
Pensioners over 75 saw a sharp drop in inflation last month, new figures show.
Statistics released by the Alliance Trust Research Centre reveal that inflation for people in this age bracket dropped from 3.6% in May to 2.8% in June.
This is the lowest rate of inflation experienced by over 75s since January 2008, although it is still 56% higher than the official rate ...
Over 75s inflation down 22%
by David Masters
July 14, 2009
National Savings & Investments (NS&I) has launched new issues of its two year fixed-rate bonds.
The Guaranteed Growth Bond pays interest at the end of the two-year term at a rate of 3.75% per annum.
The Guaranteed Income Bond pays interest monthly at a rate of 3.65% per annum.
Both bonds offer a 100% capital guarantee, backed by HM Treasury.
Customers can open the bonds online ...
NS&I reissues two-year fixed-rate bond
by David Masters
July 3, 2009
HSBC-owned first direct has launched a new offset tracker mortgage with an interest rate at 2.48% above the Bank of England's base rate.
With the Bank of England's base rate at 0.5%, this gives first direct's mortgage a headline rate of 2.98%, or 3.2% APR.
Unlike any other tracker mortgage currently available, first direct's product is capped at 4.99% until 2012.
The mortgage is ...
Capped tracker mortgage from first direct
by David Masters
July 1, 2009
Consumers opening a Sainsbury's Internet Saver account this month will receive 2.8% interest on their savings, provided they make no more than three withdrawals in the next year.
This headline rate is 2.05% higher than the standard rate of 0.75% paid to Internet Saver account holders.
However, savers who make more than three withdrawals in 12 months, or who allow their account balance to ...
Sainsbury’s announces 2.8% Internet Saver
by David Masters
June 23, 2009
M&S Money is offering 10% cashback to new customers taking out a personal loan.
Borrowers will be given a 10% refund on the interest they've paid once their final repayment has been made.
The offer is available until 11 August, and applies to loans paid back over a period of at least 36 months.
Customers who repay the loan early will not receive ...
M&S gives 10% cashback on personal loans
by David Masters
Earn 6% interest with Abbey’s packaged account
by David Masters
June 12, 2009
Alliance & Leicester Business Bank (A&L) is offering 6% AER to small businesses opening a Free Business Current Account at the bank.
Aimed at SMEs with a turnover of up to £1 million, the account offers the headline rate for 12 months after account opening on balances up to £2,500.
Available immediately for a limited period, the account can be opened in any Alliance ...
A&L business account pays 6%
by David Masters
June 9, 2009
Savers looking to open a new account this month can secure a 2.6% interest rate with the Sainsbury's Finance Internet Saver account.
For Internet Saver accounts opened between 9th and 30th June, the supermarket financial provider will pay 1.85% above the account's standard interest rate for 12 months, provided the account holder does not make more than three withdrawals in that period.
Savers ...
Sainsbury’s pays 2.6% to internet savers
by David Masters
June 5, 2009
Cater Allen has launched a series of new fixed-rate bonds paying interest at up to 5.25%.
The Santander-owned private bank said the bonds offer security of capital and a fixed, guaranteed return.
Bonds offered by the bank include a three-year escalator bond, a two-year bond, a 12-month bond, and a nine-month bond.
The three year escalator bond requires a minimum deposit of £5,000 and pays ...
Cater Allen launches bond series
by David Masters
June 4, 2009
The Bank of England's interest rate setters are widely expected to keep interest rates on hold today at the record low of 0.5%.
Should interest rates remain unchanged, it will be the third consecutive month at the current rate - the bank’s lowest since it was established over 300 years ago.
Prior to April, the Bank embarked on aggressive cuts over recent ...
Interest rates widely expected to remain unchanged
by Kay Murchie
May 29, 2009
Saga has launched a new 15-month fixed-rate bond paying interest at 3.82%.
Launched yesterday, the Saga Personal Finance Bond guarantees the fixed-rate for the duration of the bond.
Savers can open the bond for as little as £1, and can opt to have interest paid on a monthly or yearly basis.
Saga said being able to choose monthly interest payments gives savers “greater control over ...
Saga launches 3.82% 15-month bond
by David Masters
May 27, 2009
Lloyds TSB has increased the interest rate on its monthly saver account to 5%.
The rate is fixed for 12 months and is available to account holders who deposit between £25 and £250 per month.
Penalty-free withdrawals can be made from the account at any time.
Colin Walsh, Lloyds TSB managing director of savings and investments, said given the current financial climate, getting ...
Lloyds TSB pays 5% on monthly saver
by David Masters
May 14, 2009
The Government has announced this week that 2.5 million students will pay 0 percent interest on student loans from September.
However, this slashes the hope that student loans, which are linked to the Retail Prices Index which has fallen to -0.4 percent, would mean that loans would be reduced accordingly.
The Student Loans Company has stated that the decision was taken due ...
Student loan interest payments at 0%
by Peter Charalambous
