Savers pounce on NS&I after it ditched plans to slash rates, while other banks continue to cut theirs By Sylvia Morris and Fiona Parker For The Daily Mail Published: 22:01 BST, 30 June 2020 | Updated: 22:01 BST, 30 June 2020 Hard-pressed savers have flooded National Savings & Investments (NS&I) after its accounts topped best-buy … Read more
Young savers are losing out on thousands of pounds because of a failure to invest for their future, it is warned today. Investment experts are calling on the regulator and the industry to act now to ensure children get the most out of their savings. The Financial Conduct Authority (FCA) already warns that pension savers … Read more
Rates see worst cuts in a decade: Easy-access deals down 0.35% and fixed Isas down 0.56% since start of year By Money Mail Reporter For The Daily Mail Published: 22:00 BST, 30 June 2020 | Updated: 22:00 BST, 30 June 2020 Easy-access rates have plummeted by 0.35 per cent since the start of the year … Read more
Britons spent a little more, paid back a little less and tucked away a lot more last month, with savings increasing a record £25.6billion, figures from the Bank of England show. It means households have stashed away a collective £56.6billion between March and May during the height of the coronavirus pandemic, the data reveals. It comes … Read more
The amount of cash poured into Individual Savings Accounts by Britons across the country fell by 6 per cent to an average of £6,049 between the last two tax years, fresh data from HM Revenue & Customs has revealed. For people on an average salary, total adult Isa pots are typically coming in at around … Read more
Rock-bottom borrowing costs mean it is increasingly expensive for the Government to raise cash from savers, according to National Savings & Investments, raising concerns its market-leading savings rates could be cut. It cost the Treasury-backed bank almost £887million more to raise money from savers between April 2019 and March 2020 than if the Treasury borrowed … Read more
The £6.8bn High Street savings robbery: All major providers set to pay just 0.01% interest with easy-access deals from next month By Sylvia Morris For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 23:47 BST, 23 June 2020 Loyal savers are missing out on billions of pounds in interest by sticking with … Read more
Some rare good news for savers as rise in the cost of living falls to a four-year low of 0.5% By Money Mail Reporter For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 22:01 BST, 23 June 2020 The rise in the cost of living fell to a four-year low of 0.5 … Read more
Bank staff accused of ‘interrogating’ and turning away OAPs who travelled miles claiming their visits weren’t essential By Amelia Murray and Fiona Parker For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 22:01 BST, 23 June 2020 Bank branch staff have been accused of ‘interrogating’ elderly customers at the door, then turning … Read more
Savers piled 303 per cent more cash into easy-access accounts during March and April compared to the same period last year, as banking industry data shows how people opted to keep cash at hand as the coronavirus pandemic unfolded. Some £11billion was poured into easy-access accounts over the two-month period, compared to just £2.7billion in … Read more