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.... Sadly, it’s a product that for many people just doesn’t work. It’s called a health savings account, or HSA, and if you haven’t heard much about it before, you’ve got plenty of company. ... [Read full article on Guardian ]
Tuesday 25th of July 2017 11:00:05 AM
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Latest Finance News related to Savings Account

Good for the rich, bad for the poor: Trump’s healthcare plan is a lot like his tax plan image
.... Sadly, it’s a product that for many people just doesn’t work. It’s called a health savings account, or HSA, and if you haven’t heard much about it before, you’ve got plenty of company. ...
Pension planning: Avoid these costly mistakes with your savings  image
Source : Daily Express [Read Article] Sunday 16th of July 2017 02:14:00 PM
.... . Lowe says shifting money from a pension to a savings account makes little sense given today’s near-zero returns: “It may be better to leave the money to grow inside your pension until you really need it. ...
Is paying off the mortgage a better bet than saving? image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:00:00 AM
.... Instead it cut the base rate to 0. 25%, which makes keeping cash in a savings account a distinctly unattractive proposition. ...
Community groups call time on the demise of the British pub image
Source : Guardian [Read Article] Friday 7th of July 2017 04:19:25 PM
....Some of the schemes to finance the purchase of co-operative pubs offer those participating the bonus of a financial return. In the case of the Butchers Arms, the co-operative is paying 3% interest a year – more than the vast majority of savings accounts offer. ...
Chip: the robot banker trying to pull millennials out of their overdrafts image
....A robot banker who can pull you out of your overdraft sounds like the premise of a – dull, admittedly – sci-fi story, but Chip promises that it’s here right now. Just finishing its first year in existence, the start-up has a compelling pitch: plug it in to your bank account, and it will analyse your spending, moving money you don’t need into a savings account, and slowly helping you hit financial security. ...
Savers left in the red after a decade of low interest rates image
Source : Guardian [Read Article] Wednesday 5th of July 2017 06:34:13 AM
....9% on notice accounts. This collapse in interest rates and 26% inflation over the 10-year period has turned £1,000 cash in a savings account in 2007 into £878 in real terms, according to Hargreaves Lansdown. ...
Savings CRISIS: Household rainy-day funds PLUNGE to record lows  image
Source : Daily Express [Read Article] Friday 30th of June 2017 02:04:00 PM
....5 per cent last summer. It means that the value of cash kept in standard savings accounts is in effect falling, which could also discourage households from keeping hold of money. ...
Savings to finally be boosted as Mark Carney hints interest rates set to rise image
Source : Daily Express [Read Article] Thursday 29th of June 2017 11:11:00 AM
....The move will be welcomed by hard-pressed savers who have suffered record-low returns on their investments in recent years. A recent survey by Moneyfacts of easy access savings accounts found nine of 10 of them paid interest of less than one per cent while the cost of living was rising at 2. ...
Shop around to tackle inflation as rate at four-time high image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 08:20:00 AM
....". Although savings rates have picked up slightly of late, none of the 750 standard savings accounts on the market now beats inflation, according to Moneyfacts. ...
Cash savers losing interest over low returns image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 09:17:00 AM
....Base rates are now 0. 25 per cent and the current best-buy instant access savings account, from Charter Savings Bank, pays just 1. ...
Fighting Petplan tooth and claw over our cat’s claim image
Source : Guardian [Read Article] Monday 5th of June 2017 06:00:45 AM
....We felt angry and, having no confidence that it would not happen again, we cancelled all three of our pets’ policies before having to pay the next round of premiums. We now save into a pets’ savings account. ...
Mortgage approvals at seven-month low image
Source : BBC [Read Article] Wednesday 31st of May 2017 10:05:22 AM
....39% - a new record low. Interest paid on instant access savings accounts was just above a record low. ...
Call to raise retirement age to at least 70 image
Source : BBC [Read Article] Friday 26th of May 2017 12:02:45 PM
....The Forum also says that countries should aggregate and combine pensions data to give workers a full picture of their financial position. It cites Denmark, where an online dashboard collates pension information to give individuals details of their different pension savings accounts. ...
What's the best way of paying off my interest-only mortgage? image
Source : Guardian [Read Article] Thursday 25th of May 2017 06:00:21 AM
....49%). I regularly save 20%-28% of our monthly income in a savings account offering a low interest rate. ...
Nation of savers: Brits have £1.5 billion in piggy banks or coin jars image
Source : Daily Express [Read Article] Wednesday 24th of May 2017 12:45:00 PM
....When asked why they collect money in a piggy bank or penny jar, 58 per cent said it was a good way to save, over half (53 per cent) did so because they do not like carrying loose change, while just under a quarter (24 per cent) use the savings for treats. One in seven people use coin jars to save for something special and 12 per cent said putting money into a savings account was a waste of time due to low interest rates. ...
Nationwide profits hit by low interest rates image
Source : BBC [Read Article] Tuesday 23rd of May 2017 07:20:53 AM
....25% last summer following the Brexit vote. Nationwide said it kept rates unchanged on some savings accounts while passing on the rate cut to its mortgage customers. ...
John Lewis-backed credit union bids to fend off payday lenders image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 06:30:45 AM
.... By contrast, many payday lenders charge more than 1,000% APR. The new credit union is also offering “market-beating” rates up to 3% on its savings accounts. ...
Five minute guide to investing in the UK's big banks image
Source : Daily Express [Read Article] Sunday 21st of May 2017 12:01:00 AM
....”. Investing in banking stocks looks more rewarding than leaving your money in one of their savings accounts at a near-zero return, but as history shows, it is also a lot riskier. ...
A new Green Deal bond that pays 12% interest – too good to be true? image
Source : Guardian [Read Article] Saturday 20th of May 2017 06:00:17 AM
....Some people’s instant reaction might be “where do I sign?” – but anyone thinking about taking up this offer needs to remember that you don’t get something for nothing in the world of investment. This is a whole lot riskier than putting your money into a high street savings account, with no compensation if things go wrong. ...
Best savings rates: How to make your money work harder image
Source : Daily Express [Read Article] Sunday 14th of May 2017 01:43:00 PM
....3 per cent, which means cash kept in these accounts is essentially losing value. The best easy-access savings account is from RCI Bank with a rate of 1. ...
Bank of Mum and Dad is a major financial player - but could it be about to go bust? image
....EASY STREET . If you do not have enough ready cash to help younger family members, there is another option, says David Hollingworth, mortgage broker at London & Country: “The Barclays Family Springboard mortgage lets young buyers take out a mortgage of up to 100 per cent of the property value if parents deposit cash worth 10 per cent of that value in a special savings account. ...
Lifetime ISA 'THREAT' to retirement income: How LISA could damage YOUR pension image
. A third of under-40s are set to cut the amount they invest into workplace pensions or leave the scheme altogether to save into the recently launched savings accounts, according to research from MetLife. ...
Brits shy away from a place in the sun, plus it's the last day to spend old fivers image
....Bovis keeps delaying the completion date for our new home. NatWest closed my child’s savings account without telling me. ...
Britons earning below £30,000 lose out after making THIS savings mistake image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 02:23:00 PM
.... Analysis of the data showed young people ad those earning under £30,000 a year were the most likely to choose cash over stocks and shares. It's recommended that around three months worth of income is kept in easy-access savings accounts for emergencies. ...
Buy-to-let slump benefits first-time buyers, plus the best broadband firms image
....Bovis keeps delaying the completion date for our new home. NatWest closed my child’s savings account without telling me. ...
Millions rethink their investment plans and move away from buy-to-let property image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....Currie says investing in stocks and shares is cheaper and easier: “Property is far less liquid, as it takes time to buy and sell. ” You can invest free of income and capital gains tax using your annual £20,000 individual savings account (Isa) allowance. ...
Average 50-something 'OWES more in debts than they have in savings' image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....Excluding mortgage debt, the average person aged between 50 and 59 owes £4,641 from borrowing such as credit cards loans and overdrafts, according to the research from Nationwide Financial Planning. This outweighs the average amount of cash they have put away in savings accounts, at £4,511. ...
Swap flights for trains to Europe this summer, plus the rise of the 'fix-perts' image
....Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Bank of Cyprus launches competitive online savings account paying 1. ...
Bank of Cyprus UK launches competitive online account paying 1.05% image
Source : Guardian [Read Article] Thursday 20th of April 2017 12:15:27 PM
. The Bank of Cyprus has launched an online savings account paying 1. ...
Should you resist Lisa … out to lure you into saving for a property or retirement? image
.... But stashing cash in a Lisa could be a wise retirement strategy. It’s a savings account that enables you to save up to £4,000 a year without paying tax on the money you put away. ...
Expert help for gardens on a budget, plus the older expats facing poverty image
Source : Guardian [Read Article] Wednesday 12th of April 2017 02:07:41 PM
....Millions of EDF customers face second price rise this year. Government launches ‘market-leading’ savings account. ...
Savings rates turn NEGATIVE amid biting inflation with just ONE account beating rate image
....uk, said: “Savers are likely asking themselves whether it’s still considered ‘saving’ if they are in fact losing money because of the inflation bite. "As it stands, there is only one standard savings account that can outpace the current level of inflation, which means most accounts on offer today are effectively paying negative interest rates due to the inflation erosion. ...
Ford Money: New savings and ISA accounts launched aiming to help struggling savers image
. Ford Money now offers UK savers ISAs, as well as variable and fixed-rate savings accounts. ...
Lifetime ISA providers: Which banks offer a Lifetime ISA? image
Source : Daily Express [Read Article] Friday 7th of April 2017 04:51:00 PM
. Young people across Britain are rushing to open the new type of tax-free savings account which promises to help them on to the property ladder. ...
Lifetime ISA available NOW – 12 myths about the new Lifetime ISA image
Source : Daily Express [Read Article] Thursday 6th of April 2017 09:37:00 AM
. The new type of savings account is designed to let people aged 18 to 40 save for their first home or retirement without paying tax on the interest they earn. ...
Banks and building societies snub Lifetime Isa launch image
Source : BBC [Read Article] Wednesday 5th of April 2017 10:57:02 PM
.... . From Thursday 6 April, those between the ages of 18 and 39 were due to be able to open a Lisa cash savings account. ...
What time is the ISA deadline TONIGHT?  image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 09:38:00 AM
....The ISA limit covers Lifetime ISAs for those under 40 as well as Help to Buy ISAs and the new Innovative Finance ISAs which include peer-to-peer loans. Cash ISAs are simple savings accounts which do not tax interest and offer a low-risk return on cash. ...
It's that time of year to spring clean your finances with the help of our expert tips image
....Sort out your Isas . You have until midnight tonight to use your 2016/17 individual savings account (Isa) allowance, but the new enhanced £20,000 allowance kicks in tomorrow. ...
New Isa offers free cash deal to young savers image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 07:58:00 AM
.... . The money grows free of tax in the same way as a standard traditional individual savings account (Isa), allowing tax-free withdrawals provided you comply with the scheme’s rules. ...
Eight tax changes savers should watch out for from April 2017 image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 01:47:00 PM
.... . Mr Cox said that interest from bank and savings accounts has been paid gross as part of the introduction of the PSA in April 2016. ...
UK inflation rate leaps to 2.3% image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:34:06 AM
....The latest inflation figures show that the squeeze on savers just got a little tighter. Returns are creeping up - but only one of 793 openly available savings accounts matches or beats inflation, according to financial information service Moneyfacts. ...
What a £1 coin could have made since 1983 image
Source : BBC [Read Article] Friday 17th of March 2017 10:03:18 PM
....This investment in shares would outstrip investing in gold, which would have had a real value of £1. 05 by the end of 2016, and a cash savings account (real value of £1. ...
Hammond seems to be expecting business rates storm to just blow over image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:42:51 PM
....It would be hard, though, to summon too much sympathy for these investors. Tax-free ISAs, or individual savings accounts, have been around for years and if wealthy savers weren’t putting in the maximum every time, they weren’t paying attention. ...
Budget 2017: Savers BOOST with new top paying NS&I bond...paying 2.2% on savings image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 01:33:00 PM
.... “The real question is whether it’s a good idea to tie your cash up for this long. "With rates on fixed savings accounts finally nudging upwards you could end up selling yourself short by committing. ...
Isa savers frozen out as rates hit a new low image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 08:13:00 AM
. Experts warn this could slow the traditional rush to take out a tax-free individual savings account before the tax year ends on April 5. ...
Big returns image
Source : BBC [Read Article] Sunday 5th of March 2017 01:39:06 AM
. If you had put £10,000 into a good savings account 10 years ago, you would now have £11,361. ...
AMC, APR, ERC explained: The ridiculous financial acronyms that serve to confuse image
Source : Daily Express [Read Article] Wednesday 1st of March 2017 09:01:00 AM
....The Annual Equivalent Rate is one of the least understood terms of all. Black says it helps you compare savings accounts by showing how much interest you get over a full year: “This allows you to compare an account paying monthly interest against one that pays it once a year. ...
Low-income families have less than £100 put away, report finds  image
Source : Daily Express [Read Article] Monday 20th of February 2017 09:24:00 AM
...." . Research from financial information website Moneyfacts found last week that only one in 30 savings accounts on the market beats or matches the Consumer Price Index (CPI) measure of inflation, which moved up to 1. ...
Savers need a balancing act to beat inflation image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
....So at this time of rock bottom returns, where can savers turn to make something from their cash and fend off inflation?. Although most easy access accounts pay a derisory rate of around 1%, some high interest savings accounts pay many multiples of that, although they come with conditions. ...
A new Isa is offering tax-free returns of 12% – so what’s the catch? image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
.... They cut out the banks by putting people with money to lend in touch with those who want to borrow. The so-called “innovative finance” Isa – one of the latest additions to the individual savings account family of products – actually went live last April, but it is only now that there are some accounts to choose from. ...
ISA allowance: If I don't use this year's allowance, can I carry it over to next year? image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 04:42:00 PM
....The ISA limit covers Lifetime ISAs for those under 40 as well as Help to Buy ISAs and the new Innovative Finance ISAs which include peer-to-peer loans. Cash ISAs are simple savings accounts which do not tax interest and offer a low-risk return on cash. ...
New double whammy to hurt prudent older savers image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 10:29:00 PM
....” . Almost three quarters of over-55s have money in an instant access savings account, and more than half hold a tax-free cash Isa. ...
What level does inflation have to reach to erode savings and pensions? image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 01:15:00 PM
....She told savers and pensioners living on their savings: “The value of your savings will be eroded now. There’s barely a savings account now that will beat inflation. ...
Five minute guide to choosing to invest in premium bonds image
Source : Daily Express [Read Article] Sunday 12th of February 2017 12:01:00 AM
....However, even after the forthcoming cut, the prize rate of 1. 15 per cent is roughly three times the return on the average easy access savings account, which currently pays a meagre 0. ...
What is an ISA? How to save money with an ISA? Advice and tips image
Source : Daily Express [Read Article] Thursday 9th of February 2017 05:00:00 PM
.... . Cash ISAs are simple savings accounts which do not tax the interest you earn and offer a low-risk return on cash. ...
Savers warned: Here are the 10 big ISA mistakes to AVOID ahead of deadline  image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 05:57:00 PM
.... Taking the first steps into investing can be daunting, but can pay off, as savings rates continue to languish. A lump sum of £15,000 invested in the FTSE All Share index from 2006 until 2016 would be worth £25,769 - whereas the average savings account would have returned just £15,844 over the same time period, according to calculations by Fidelity. ...
Five minute guide to tracing your lost financial assets image
Source : Daily Express [Read Article] Sunday 5th of February 2017 01:57:00 PM
.... . The good news is that money lying in old pensions, investment funds or savings accounts still belongs to you and with a bit of effort, you can track it down. ...
Broker-charge comparison website can save the average investor thousands of pounds image
....”. The site allows you to compare the cost of investing in a tax-free individual savings account (Isa), self-invested personal pension (Sipp) or standard trading account. ...
‘Barclays took my £440,000 and put me through hell’ image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
....Last September Mohammad Rahman won a four-year battle for compensation for disabilities caused by clinical negligence. A court awarded him £500,000, which was paid into the current and savings accounts he held with Barclays. ...
Can I buy a flat while I'm paying off debts through an IVA? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:00:30 AM
....No matter what your earnings, you won’t be able to get a mortgage. What you could sensibly do when your IVA comes to an end is to start putting the same amount you were paying into your IVA in a savings account. ...
OAPs are using their homes to top up retirement spending image
Source : Daily Express [Read Article] Tuesday 17th of January 2017 04:00:00 PM
....The surplus falls into your estate and can be passed on to your loved ones in the usual way. Just 44 out of 669 savings accounts now pay more than the new inflation rate of 1. ...
A grand investment idea from Kevin McCloud, but it’s not without its risks image
.... This one is targeting people looking for something “social and environmental” as well as a decent interest rate. A return of 8%, or 9% if you sign up before close of play on Monday, is way more than you’d get from a savings account, and 32 times the Bank of England base rate. ...
Sealing the deal as HomeServe hikes the cost of our contract image
Source : Guardian [Read Article] Saturday 7th of January 2017 07:00:12 AM
.... The quoted £358 is an absurd amount to charge to cover a boiler – especially with a £95 excess. Find a local trusted plumber and put the money in a savings account and pay for any repairs that come along. ...
How to make the most of booming Britain as the stock market hits record highs image
Source : Daily Express [Read Article] Wednesday 4th of January 2017 12:01:00 AM
....Feelgood factor. The FTSE 100 delivered a total return of almost 20 per cent last year, including capital growth and dividend income, more than 50 times the rate on the average easy access savings account, which now pays a meagre 0. ...
Will it be a happy new year for your investment funds? image
Source : Guardian [Read Article] Saturday 17th of December 2016 07:00:15 AM
....Forecasts made by investment banks such as Goldman Sachs, JP Morgan and Barclays Capital are only marginally better than flipping a coin, and if you hold on to their “hot picks” longer than a few months you will almost certainly lose money, according to new research. Intertrader, a spread betting firm, examined stock predictions from so-called (and highly paid) gurus at 16 investment banks, tracked them over the following 12 months and compared them to the returns on just putting your money into a savings account or a stock market index such as the S&P 500 on Wall Street. ...
FCA considers £1m compensation limit to increase protection for pensioners image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:29:36 PM
....”. A consultation is already taking place on plans to increase the maximum FSCS compensation for people with money in savings accounts from £75,000 to £85,000 from 30 January 2017. ...
New crowdfunding platforms following peer-to-peer lending are riskier than many realise image
....Savers have been rewarded with interest rates of 5 per cent a year or more. However, lending in this way is riskier than leaving it in a savings account. ...
Inflation challenge to the long-suffering savers in Britain image
Source : Daily Express [Read Article] Wednesday 14th of December 2016 08:56:00 AM
.... . With the average savings account paying less than half that amount it is now even harder to protect the value of your money in real terms, but the new breed of “challenger” bank may help. ...

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