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Index: HomeNewsJune 2016


Fixed Term now LIVE!

29 June 2016

interest Me

We are pleased to announce that our Top Rates tables now include Fixed Term savings accounts. Non of the traditional big boy banks make the tables and indeed it's new kid on the block Atom Bank that takes top spot for both 1 and 2 year Fixed Terms.

The 'Outs' have it!

24 June 2016

Union Flag

The result of the EU referendum has surprised just about everyone with an Exit majority.
There will be a period of uncertainty as we have not had to stand on our own two feet for over 40 years. However here at 'Interestme' we do not expect any knee jerk reaction to savings interest rates in the immediate following days. You will see a lot of volatility in the Markets and the £ over the coming weeks, but until they stabilise we will not know the true impact of Brexit and the subsequent affect on interest rates. What will certainly influence these will be the reaction of Government, Bank of England and Business. We all need to get behind the decision, whether you wanted it or not, and make it work. That's the only way that we can all benefit.

Rates Held

16 June 2016

Bank of England

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target and in a way that helps to sustain growth and employment. At its meeting ending on 15 June 2016 the MPC voted unanimously to maintain Bank Rate at 0.5%. The Committee also voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

Twelve-month CPI inflation was 0.3% in May and remains well below the 2% inflation target. This shortfall is due predominantly to unusually large drags from energy and food prices, which are expected to attenuate over the next year. Core inflation also remains subdued.

Rate Decrease

7 June 2016

Lloyds

LLoyds Bank have today reduced the interest rate of their Club Lloyds Monthly Saver. The rate has reduced from 4% to 3% for the 12 month fixed term of the account. The reduced rate is applicable to new accounts opened from 7 June 2016. This move by LLoyds means it falls down our Top Rates table for Regular Saver a/c's.

Rate Decrease

6 June 2016

ns&i

ns&i have today reduced the rates of several accounts which they announced at the end of March. The affected accounts are -

  • Direct ISA down from 1.25% to 1%
  • Direct Saver down from 1.1% to 0.8%
  • Income Bonds down from 1.25% to 1%

No ns&i products are currently in our Top Rates tables

Notice

June 2016

Bankof Scotland

Bank of Scotland has given advanced notice of a change to Bank Accounts with Vantage. From 1 September 2016, in addition to current qualifying criteria, you will also need to setup and pay 2 Direct Debits each month to receive credit interest.
Their Classic Bank Account with Vantage is currently one of our recommendations in our Top Rates tables for High Interest paying Current Accounts. Will it be after 1 September?



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