Double Money On Offer For Savers

Published: 8/7/2010

The Bank of Scotland has a fantastic opportunity for first time buyers saving a deposit for their first home – doubled up savings.

The way this works is that savers who regularly deposit money into a Bank of Scotland savings account, up to a maximum amount saved of GBP5,000, will have the balance matched by the home builder Persimmon. The one proviso is that this only happens if the savings are used as a deposit on a new house.

A spokesman from the housebuilder saw it as making a real difference for first time buyers, though they would still need a considerable amount saved elsewhere in order to make the 25 percent minimum deposit most mortgage providers require. The Bank of Scotland are also in favour of the scheme as they want to help home buyers as much as they can.

More Articles

Green Investment Opportunity From Zurich

A new capital account has been launched by Zurich Insurance, called the Green Guaranteed Account. It offers returns based on stock market investments into green businesses. The RBS Green Index lists only those organisations operating in the environmentally friendly categories, such as biotechnology, solar power, wind and water power etc. Investors in the Zurich Insurance account will have their capital protected whilst being in line for 100 percent of growth enjoyed within the sector. A spokesman from Zurich Insurance felt this Green Guaranteed Account was ideal for investors who wanted to support the environment whilst earning a return on their investment.

New Investment Bonds Issued By Abbey

The Abbey National has just issued a new range of investment bonds, catering for children, the over fiftys and those seeking a safe, fixed rate home for their money. The Abbey National childrens savings bond is valid for those under 18 and offers a guaranteed 5.3 percent interest rate gross per annum, with an investment period of four years. Meanwhile, at the other end of the age scale, the over 50s will pay interest either annually or monthly to best suit investor circumstances, at a rate of 5.3 percent annual or 5.18 percent monthly. Finally, the fixed rate bond from the Abbey National is available as a one, two or three year product. Assuming an investment amount of less than GBP50,000 the gross returns are 5.7, 5.2 and 5.1 percent respectively. For the one year bond an investment of GBP50,000 or more would provide a 6 percent return.

Britons Consider Saving Important

9 out of 10 Brits believe it is important to save according to a study carried out by the Nationwide Building Society. Although it is good to see so many people recognising the importance of having a fund of money to call upon should it be needed only around 55 percent of people actually put money aside on a regular basis. Approximately 25 percent of people save money occasionally whilst almost 20 percent do not have savings at all. This situation is not through choice in many instances though,as a Nationwide Building Society spokesman explained. With the cost of simply paying bills, buying food and running a car stampeding ever higher it becomes financially impossible for many people to save regularly, if at all. This is a shame since some of the best savings rates for many years are now available to customers. See how Nationwide Building Society savings accounts compare at