Figures published today show that people in the UK continue to repay debt as the incentive to save remains low in the current historically low interest rate environment.
According to the Building Societies Association (BSA), its members withdrew more money than they saved for the ninth consecutive month in November.
The BSA said there was a net [...]
A study called “Precious Plastic” by accountancy firm PricewaterhouseCoopers (PwC) has found that while there has been a “cooling passion” for credit cards, bad credit card debts could jump as much as 9% of all outstanding balances by the end of 2010.
According to Richard Thompson, a partner at PwC, over the last year, “there has [...]
Santander plans to discontinue the 6% current account at its UK banks.
The 6% + 6% offer, which pays new Abbey and Alliance & Leicester customers 6% interest on their current account and on monthly savings, will close later this week.
Savers taking maximum advantage of the offer could earn nearly £250 interest in the next 12 [...]
Barnsley Building Society has launched a range of new Online Bonds paying interest at a fixed rate of up to 5.4%.
The three, four, and five year bonds pay a gross/AER rate of 5%, 5.15%, and 5.4% respectively.
Minimum balance to open the bonds is £100, and maximum is £500,000.
Sarah Lawrence, Barnsley’s senior product manager, encouraged savers [...]
Lloyds TSB International this week launched its Bonus Saver Account aimed at British ex-pats and customers who make frequent cross-border transactions.
The account offers no-penalty instant access, and is available in either euros or sterling.
Savers can invest up to £1 million or €1 million.
Sterling accounts with a balance of £5,000 or above benefit from a 12-month [...]