12-Month Low Of British Saving Rates
Almost a quarter of the British population failed to save any of their earnings in the last three months, a recent study shows. National Savings and Investments (NSI) latest quarterly survey found that 23% of participants did not save a single penny of their income- a 6% increase on last year’s 17% national saving rate.
The survey also stated that over 15m people have not been saving enough money to cope with an emergency should one arise.
John Prout, retail customer director at NS&I said:
“When times are tough it can be difficult to save but even putting away a few pounds each week will help act as a financial cushion should you read more »
Interest Rates Rise On Fixed-rate Accounts
Interest rates on fixed-rate savings accounts have increased again, providing great news for savers. Rates have been rising steadily on these accounts since May as MoneySupermarket research shows the average rate for a two-year fixed-rate bond is up 0.09% to 3.76%.
Kevin Mountford, Head of Banking at MoneySupermarket.com says:
"Despite low interest rates, there is still healthy competition among savings providers. With the recent increase in rates from the likes of Yorkshire Building Society, the Co-operative Bank and the AA, savvy savers need to be quick to take advantage as these rates may not hang around for too read more »
Leave a comment »