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August 2023 News Archive

Explore our archive of financial news, savings, mortgages and personal finance articles published in August 2023. Browse articles below for key developments, expert analysis and insights from the month.

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August 2023 News

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Average easy access ISA rate reaches 3%

30th August 2023

The average return on an easy access ISA hit 3.00% gross yesterday according to Moneyfacts’ data – the highest this rate has been since December 2008.

The last time this rate was higher was in December 2008.

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NS&I makes market-leading fixed rate increases

30th August 2023

Its one year fixed rate bond now offers 6.20% AER, the best rate on the market.

Its one year fixed rate bond now offers 6.20% AER, the best rate on the market.

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Admiral loses thousands of customers as average price of car insurance rockets

24th August 2023

Motorists in the UK are paying more to insure their vehicles. This is according to the Association of British Insurers (ABI), which stated the current average premium rose to £511 in the three months to June 2023 – up 21% on the same period last year.

Despite losing customers, the company reported a 4% increase in profit compared to last year.

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Interest rates and annuities: What could this mean for your retirement?

22nd August 2023

As interest rates rise, retirees are benefiting from higher annuity rates.

As interest rates rise, retirees are benefiting from higher annuity rates.

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Top student bank account perks of 2023

17th August 2023

With exam season over and results day looming, high street names are refining their student bank account offerings ready for the next academic year’s intake. If you’re planning to start university in September, this means you could access free cash, an interest-free overdraft and more by opening or switching to a student bank account.

Find free cash, subscriptions and interest-free overdrafts on offer from high street brands such as NatWest, HSBC and Santander.

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UK inflation falls to 17-month low

16th August 2023

Food prices are rising at a slower pace, while a fall in energy costs also contributed towards this month’s decline.

Food prices are rising at a slower pace, while a fall in energy costs also contributed towards this month’s decline.

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Santander’s easy access account now paying 7.00% AER

15th August 2023

Santander increased the rate paid by its Santander Edge Saver (Issue 1) to 7.00% AER today, which includes a 2.50% AER bonus for the first 12 months.

Santander increased the rate paid by its Santander Edge Saver (Issue 1) to 7.00% AER today, which includes a 2.50% AER bonus for the first 12 months.

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Bank of England makes 14th consecutive base rate increase

3rd August 2023

The Bank of England’s Monetary Policy Committee (MPC) voted to make its 14th consecutive base rate increase today.

The Bank of England’s Monetary Policy Committee (MPC) voted to make its 14th consecutive base rate increase today.

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Average one-year fixed cash ISA rate hits 5%

1st August 2023

The last time this rate was higher was November 2008.

The last time this rate was higher was November 2008.

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We’ve changed our name to Moneyfactscompare.co.uk

8th March 2023

It’s the same site you know and love, just with a different logo.

It’s the same site you know and love, just with a different logo.

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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.