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Index: HomeNewsNovember 2016


Autumn Statement - NS&I Investment Bond.

23 Nov 2016

Phillip Hammond delivers Autumn Statement

To provide support to savers NS&I will offer a new market leading 3-year savings bond. The indicative rate is 2.2% but this may be adjusted to reflect market conditions when the product is launched. The bond will be open to those aged 16 and over, subject to a minimum investment limit of £100 and a maximum investment limit of £3,000. The product will be available for 12 months from spring 2017!

New and improved rates

18 Nov 2016

Tesco Bank

There's been very little to bring a smile to savers faces over the last year. Month after Month we have been reporting rate decreases. However small positive movements have been happening to savings interest rates over the present week. Although these small positive movements hadn't been troubling top positions in our Toprates tables... not until today that is! Tesco has revamped their savings range with some new and improved savings interest rates. This includes their Internet Saver account and their 1 to 5 year Fixed Rate Saver accounts. Indeed their 3 year Fixed Rate Saver paying 1.62% Gross/AER has taken over top spot in our 3 year Fixed Term table. We are hoping Tesco's stance is one of optimism for the future and an indication that they will leave their 3% current account well alone. Or are we being a little cynical by thinking that they are only doing this to try and pacify existing customers and encourage new customers following last weeks hacking scandal? For now Tesco... Bring it on!

Rate Decrease

1 Nov 2016

Santander

We've known since the middle of August that this day would come. The Santander 1|2|3 current account interest rate cut from 3% AER / 2.96% Gross down to 1.5% AER / 1.49% Gross. Those savvy among us will have already taken the necessary action to protect our savings. But there will be those of us who will need the shock, of seeing how little monthly interest we'll now be getting, to spur us into action. Remember too, that TSB and Lloyds banks have also given notice of rate cuts in their interest paying current accounts from Jan 2107. So read our updated Blog article Santander v The Rest to get an illustration of the best current accounts for you and your partners £20,000.



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