Tag: interest rate
Lloyds TSB International launches instant access saver
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 [...]
Over 75s inflation down 22%
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 [...]
NS&I reissues two-year fixed-rate bond
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 [...]
Capped tracker mortgage from first direct
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 [...]
Sainsbury’s announces 2.8% Internet Saver
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 [...]
M&S gives 10% cashback on personal loans
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 [...]
Earn 6% interest with Abbey’s packaged account
Abbey is paying a 6% interest rate to its premium current account holders. The Santander-owned bank is offering the rate on balances up to £2,500 to customers opening the new Abbey Reward Account. To benefit from the headline rate, customers must deposit at least £1,000 per month into the account. Other benefits of the £10-per-month [...]
A&L business account pays 6%
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 [...]
Sainsbury’s pays 2.6% to internet savers
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 [...]
Cater Allen launches bond series
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 [...]
Interest rates widely expected to remain unchanged
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 [...]
Saga launches 3.82% 15-month bond
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 [...]
Lloyds TSB pays 5% on monthly saver
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 [...]
Student loan interest payments at 0%
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 [...]
The Nottingham pays 4.15% on two-year bond
The Nottingham has unveiled a two year fixed-rate bond paying interest at a guaranteed 4.15% AER. Savers can invest between £1,000 and £250,000 in the bond, which is managed remotely by post. A saver investing £25,000 in the bond will see their savings grow by £2,177 before tax through the two year term. According to [...]
Barclays offers 4.25% fixed on three year bond
Barclays has launched a new three year fixed-rate bond paying interest at up to 4.25% gross p.a./AER. New and existing customers can open the bond online or in branch with a minimum of £25,000 and a maximum of £500,000. Savers can opt to receive interest monthly as a regular income at a rate of 4.17%, [...]
Nationwide cuts rate on personal loans
Nationwide Building Society has cut the interest rate it charges on personal loans between £7,500 and £14,999. Typical annual percentage rate (APR) for newly taken out loans has been reduced from 8.2% to 7.9%. By comparison, RBS offers a typical APR of 8.9% for loans of this amount, whilst HSBC’s typical APR is 9.9%. “With [...]
Report indicates US needs an interest rate of minus 5
The Financial Times has published a report on its website indicating that in order to deal with the recession, the US economy needs an interest rate of minus 5 percent. Quoting from the Federal Reserve’s own analysis of the Taylor-rule approach, which produces an estimate of the most useful interest rate using measures such as [...]
Israel retains interest rate at 0.5%
As expected the Bank of Israel has left interest rates at 0.5 percent, which is a further indication that it is nearing an end to the six month easing cycle and will continue to push long-term rates lower instead. Short-term lending rates had been at a record low and other measures, such as buying government [...]
