UK Savings News

The account only allows four penalty-free withdrawals per year.

The account only allows four penalty-free withdrawals per year.

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.

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.

High street bank HSBC will more than double the rate on its Online Bonus Saver next Tuesday, taking its rate for balances of £10,000 or under to 1.30%. Currently, the Online Bonus Saver pays a monthly rate of 0.45% for balances of £10,000 or less. Anything greater and this rate falls to 0.40%.

High street bank HSBC will more than double the rate on its Online Bonus Saver next Tuesday, taking its rate for balances of £10,000 or under to 1.30%.

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer. The Digital Regular Saver pays 5% gross (5.12% AER) on balances between a single pound and £1,000. If this is figure is exceeded, but below £5,000, then the provider will drop its rate to 0.50% AER. Any balances greater than £5,000 will revert to a 0.40% AER.

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer.

SAGA has launched a new easy access savings account paying 1.40% and, while the rate is competitive, there are multiple other providers paying the same if not higher rates for these types of accounts.

SAGA has launched a new easy access savings account paying 1.40% and, while the rate is competitive, there are multiple other providers paying the same if not

National Savings & Investments (NS&I) increased the prize fund rate on its premium bonds to 2.20% today. The last increase saw the rate rise 0.40 percentage points in May, meaning today’s rise is double the previous uplift.

NS&I increased the prize fund rate on its premium bonds to 2.20% today.

The rising price of airfares, second-hand cars, live music events, and computer games are reasons why the cost of living remains elevated.

The rising price of airfares, second-hand cars, live music events, and computer games are reasons why the cost of living remains elevated.

Ford Money was commended for the Online Savings Provider of the Year award at the Moneyfacts Consumer Awards 2021, held in January.

Ford Money was commended for the Online Savings Provider of the Year award at the Moneyfacts Consumer Awards 2021, held in January.

Premium Bondholders will have more chances to win prizes worth £50 to £100,000 after NS&I announced today it would be increasing its Premium Bond prize fund rate to 3.70%. According to NS&I, this is the highest the prize fund rate has been in 15 years and will mark the sixth time the rate has been increased in just over a year.

The increase will see the prize fund rate at the highest it’s been in 15 years.

Its Online Bonus Saver is set to pay 4.00% AER on balances of £10,000 or less.

Its Online Bonus Saver is set to pay 4.00% AER on balances of £10,000 or less.

The account offers a rate of 4.50% AER but includes some withdrawal restrictions.

The account offers a rate of 4.50% AER but includes some withdrawal restrictions.

The Government-backed institution is set to add £66 million to the prize fund each month.

The Government-backed institution is set to add £66 million to the prize fund each month.

It is the first time these figures have exceeded this point since 2008.

It is the first time these figures have exceeded this point since 2008.

Want to know the best fixed rate 1 year bonds so far in November? We look at the options.

Want to know the best fixed rate 1 year bonds so far in November? We look at the options.

The first week of the month brought a raft of changes as numerous banks and building societies either have or are set to refine their savings offerings. HSBC and Nationwide BS are two high street names which announced increases to selected rates this week.

The first week of the month brought a raft of changes as numerous banks and building societies either have or are set to refine their savings offerings.

Coventry Building Society has launched a new highly competitive regular savings account today offering a rate of 2.5% AER for the first 12 months

Coventry Building Society has launched a new highly competitive regular savings account today offering a rate of 2.5% AER for the first 12 months

NatWest has made a number of changes to its savings accounts terms and conditions, which increase restrictions on the accounts and cut rate change notice periods

NatWest has made a number of changes to its savings accounts terms and conditions, which increase restrictions on the accounts and cut rate change notice periods

Premium bonds have long been a popular investment option for savers and, despite the economic uncertainty over the past 18 months

Premium bonds have long been a popular investment option for savers and, despite the economic uncertainty over the past 18 months

NS&I will be increasing its Premium Bond prize fund rate to 4% from the August draw – the highest it’s been since 2007.

NS&I will be increasing its Premium Bond prize fund rate to 4% from the August draw – the highest it’s been since 2007.

Some of the UK’s biggest banks are still paying less than 1% on their easy access deals.

Some of the UK’s biggest banks are still paying less than 1% on their easy access deals.

Savers who jumped onboard with Marcus by Goldman Sachs 12 months ago need to act now if they want to keep earning the best possible interest rate on their account.

Marcus by Goldman Sachs 12 months ago need to act now if they want to keep earning the best possible interest rate on their account.

Four in ten savers have been forced to use their savings account to help cope with the rising cost of living over the past 12 months. This is according to Yorkshire Building Society and the Centre for Economics and Business Research’s Inflation Nation report, which was released today.

Four in ten savers have been forced to use their savings account to help cope with the rising cost of living over the past 12 months.

Coventry Building Society has launched an easy access savings account called the Triple Access Saver, which pays 1.46% yearly and sits at the top of the easy access charts.

Coventry Building Society has launched an easy access savings account called the Triple Access Saver, which pays 1.46% yearly and sits at the top of the easy ac

Parents thinking about opening a children’s savings account are being urged to act quickly as rates on these accounts could start to fall

Parents thinking about opening a children’s savings account are being urged to act quickly

Rates on easy access and fixed savings accounts have risen this month and have reached their highest level this year, but average rates are still significantly lower than before the pandemic

Rates on easy access and fixed savings accounts have risen this month and have reached their highest level this year.

Over £300 billion worth of savings is still sitting in accounts offering a rate of 0.1% or less, according to research released by Paragon Bank and CACI, a data company, yesterday.

Over £300 billion worth of savings is still sitting in accounts offering a rate of 0.1% or less, according to research released by Paragon Bank and CACI.

The top three easy access rates have all increased over the past 14 days.

The top three easy access rates have all increased over the past 14 days.

Finance expert at Moneyfacts.co.uk, Rachel Springall, takes a look at the first six months of 2019 to find out if consumers are better or worse off than if they had taken out a deal in January.

Who are the mortgage, savers and credit card winners and losers in the first six months of 2019?

Savers could start to see savings rates fall in the second half of April as the Bank of England has announced that the start of its Term Funding Scheme with additional incentives for SMEs (TFSME) has been brought forward to Wednesday 15 April 2020

Savers could start to see savings rates fall in the second half of April as the Bank of England has announced that the start of its Term Funding Scheme

The state-owned savings bank increased the interest rates on its Direct Saver and Income Bonds to 0.50%. “The new interest rates will ensure that our products are priced in line with the broader savings sector. The increase will also help us to meet our annual Net net Financing financing target for 2021-22 of £6 billion, in a range of £3 billion to £9 billion,” said Ian Ackerley, Chief Executive for of the National Savings and Investments (NS&I). The interest paid on these accounts will now change from 0.35% gross annual equivalent rate (AER) to 0.50% gross AER with immediate effect. The previous increase to these products came in December, when rates increased from 0.15% gross AER to 0.35% AER.

The state-owned savings bank increased the interest rates on its Direct Saver and Income Bonds to 0.50%.

Consumers borrowed an additional £1.9 billion in February, of which nearly 80% was used on credit cards. UK consumers took on an additional £1.5 billion in credit card borrowing in February, taking the total credit card amount borrowed to £59.5 billion. According to the Bank of England (BOE), this is the highest since records began in 1993.

Consumers borrowed an additional £1.9 billion in February, of which nearly 80% was used on credit cards.

Figures released by the Bank of England this week show consumers deposited almost double the amount in savings accounts during August compared to before the pandemic

Figures released by the Bank of England show consumers deposited almost double the amount in savings accounts during August compared to before the pandemic

Savers wanting to get the best rates on an easy access savings account may have to opt for one with withdrawal restrictions, as half of the accounts offering the top 10 highest rates have some sort of withdrawal restriction

Savers wanting to get the best rates on an easy access savings account may have to opt for one with withdrawal restrictions

Throughout 2019, the savings market has not been particularly good for savers and competition across much of the market has declined

Throughout 2019, the savings market has not been particularly good for savers and competition across much of the market has declined

July continues to be a sorry month for savers, the average interest rates on easy access ISAs fell to 0.37% and the average rate for a one-year fixed rate ISA is 0.61%. Those savers looking to invest tax-free with the potential of a better return while protecting their capital could consider a structured deposit.

July continues to be a sorry month for savers, the average interest rates on easy access ISAs fell to 0.37% and the average rate for a one-year fixed rate ISA i