Savings correspondent Alan O’Sullivan investigates the Nationwide savings rate conundrum.
The days of great variable savings rates from Nationwide are over, if its latest set of advertisements are anything to go by.
One of the adverts posted in the national press states: ‘Solid. Stable. Dependable. Exciting, aren’t we? Over 5,000 savings accounts were […]
Half the bank’s 240,000 customers are in the UK and a high proportion of them have fixed-interest bonds that run for one year or more.
The bank is enforcing conditions in the small print to prevent fixed-rate savers from taking their cash before maturity.
‘It’s as if we’re being held hostage,’ says one anxious UK customer […]
Last week, Money Mail revealed how £212m had been pulled out of building society Isas in December due to pathetic rates.
Things will only get worse after the Bank of England slashed the base rate of interest to 1% a record low.
Now, leading financial advisers say an increasing number of desperate savers […]
The site may be unique, but there are questions over whether it will evolve into a bargain
Are you tired of trawling savings tables looking for a decent savings rate for the considerable amount of money you have set aside?
Do you think banks have it easy as they get to dictate savings rates? And […]
And one thing is clear, when it comes to the matter of Child Trust Funds, the experts are shunning stakeholder plans and going with equities all the way.
So where are they investing for their children?
Matthew Cox, Skipton Financial Services
'I became a father just last month when my son Jacob was born and […]
But experts are stressing the lifespan of these plans is long term at 18 years and by switching now they would only crystallise losses.
David White of The Children's Mutual, a CTF provider, says: 'While in these credit crunched times finding significant sums for saving may be difficult, we believe it will be far harder for […]
Rates have been slashed from 5% to a 315-year low of 1.5% since October, and the City is expecting another cut to 1% on Thursday.
But with the official cost of borrowing rapidly approaching zero, and the economic storm clouds getting darker, attention is now turning to what else policymakers can do to stave off deflation […]
Alistair Darling set out the details of a radical £50bn scheme to head off a slump by injecting hard cash into the stricken economy.
The move represents a major step towards so-called quantitative easing, whereby the Government creates more money to ease the shortage of credit in the economy.
But it also takes the Bank a […]
A Daily Mail investigation has revealed how some of the biggest high street names automatically move savers’ money into low interest accounts.
Many receive just 0.08% after tax when high-interest bonds mature. It means savers receive a paltry £80 a year from their life savings.
If a bank switched them into equivalent accounts paying better rates, […]
The life insurer said annual bonuses on a number of its policies were being reduced following 2008’s 'extreme investment conditions', during which the FTSE All Share Index collapsed by 32.8%.
The results are largely considered to be no worse than expected.
Margaret Flaherty, at Standard Life, said: '2008 was a poor year for investment returns, […]
© 2008 Daily Financial News