Rising inflation cancels out base rate gains
Rising inflation is set to wipe out any gains made from last week’s base rate hike, creating more misery for savers.
Gatehouse Bank adds 0.25 per cent interest to savings rates
Gatehouse Bank has increased the rates on its savings accounts by 0.25 per cent, in line with the recent base rate rise. All three of the bank’s existing notice accounts will be offering an extra 0.25 per cent starting from Friday 17 August.
Londoners are the UK’s most Frugal Savers
New research from energy-switching service The Labrador has revealed the extreme measures that savers go to in an effort to avoid spending money.
Skipton Raises Savings Rates following Base Rate Change
Skipton Building Society has raised the interest rate on its Cash Lifetime ISA (LISA) and other variable savings accounts, following yesterday’s base rate hike.
Interest Rate Rise Offers Hope for Savers
After months of speculation, the Bank of England’s Monetary Policy Committee (MPC) voted to raise the base rate for the first time since November 2017.
Why the Bank of England Base Rate Matters
Over the past nine years, the Bank of England’s Monetary Policy Committee (MPC) has only raised rates once. So why does this base interest rate even matter?
Retired Households see Fastest Rise in Disposable Income
Retirees have seen the fastest growth in their disposable income over the past year, new data has revealed. By April 2018, the average retired household has a disposable income of £23,239, a rise of 1.45 per cent on the previous year’s figures.
Skipton Blasts Government Recommendation to End the Lifetime ISA
Skipton Building Society has urged the government not to abolish the Lifetime ISA (LISA), despite a new recommendation from the Treasury Select Committee.
Regulator Mulls ‘Basic Savings Rate’ Amid Concern for Cash Savers
The Financial Conduct Authority (FCA) is considering setting a ‘basic savings rate’ to combat price discrimination in the cash savings market.
Cash-Only Savers Lose Thousands of Pounds Over the Past Decade
Savers who have kept £10,000 in cash over the past ten years have effectively lost out on £16,000 in returns, thanks to a combination of high inflation and low interest rates.
Are Savings Bonds a Good Investment?
With interest rates at record lows, you may be struggling to earn a decent return on your savings. Are savings bonds the financial products that could offer you a better return?