Blow for loyal savers as plan for minimum interest rates is scrapped by banking regulator Plans to protect loyal savers with a minimum interest rate have been shelved FCA announced earlier this year that it planned to shake up the savings market Move would have required every bank and building society to pay a blanket … Read more
Well off middle-aged savers pile cash into personal pensions during coronavirus crisis, but old and young put in about the same or less Average value of contributions into Sipps by 30 to 39-year olds rose by 34.7% Among 40 to 49-year olds, the increase was 18.3% Interactive Investor’s research was based on its own Sipp … Read more
Savers missing out on more than £1bn a year in interest by leaving cash in current accounts By Sylvia Morris For The Daily Mail Published: 22:01 GMT, 3 November 2020 | Updated: 22:01 GMT, 3 November 2020 Savers are missing out on more than £1 billion a year in interest by leaving their cash languishing … Read more
National Savings & Investments delivered a crushing blow to savers last month when it announced deep cuts to a number of accounts, which will bite later in November. Some savers are set to go from earning a market-leading rate of 1.15 per cent interest each month to just 0.01 per cent, while holders of Britain’s … Read more
Savers endure over 160 cuts in a month as banks follow NS&I in slashing interest rates By Sylvia Morris For The Daily Mail Published: 22:01 BST, 20 October 2020 | Updated: 22:26 BST, 20 October 2020 Savers have suffered more than 160 interest rate cuts overall in four weeks. It comes after last month’s announcement … Read more
Savers shun rock-bottom savings rates and plough cash into stocks and shares ISAs By Lucy White For The Daily Mail Published: 22:10 BST, 20 October 2020 | Updated: 22:30 BST, 20 October 2020 Business is booming for investment platforms as savers who stored up extra cash over lockdown flocked to the markets to put it … Read more
Rates are changing so fast, offline savers can’t keep up: Top deals only available for days before being slashed By Sylvia Morris For The Daily Mail Published: 22:01 BST, 6 October 2020 | Updated: 22:01 BST, 6 October 2020 Older savers are missing out on hundreds of pounds in interest because they are not going … Read more
Complaints over NS&I service keep pouring in as savers are hit with delays while rates tumble Customers say waiting times for calls to be answered are often up to an hour Some are also finding it difficult to register online after changes to bond prizes By Rachel Rickard Straus For The Mail On Sunday Published: … Read more
Woodford Equity Income savers told they won’t get their cash back for ANOTHER year By Lucy White For The Daily Mail Published: 21:53 BST, 30 September 2020 | Updated: 21:53 BST, 30 September 2020 Investors stuck in Neil Woodford’s doomed Equity Income Fund could be waiting at least another year to get their money back. … Read more
The only hope for savers wanting a decent return perhaps now rests solely with banks running prize draws. More providers are now offering savers the chance of winning cash prizes. And the more you invest, the better the odds. The nation’s favourite savings product — NS&I’s Premium Bonds — offers the chance to win £1 … Read more