According to the Legal and General MoneyMood survey, the people of the UK are changing their habits regarding saving.
Compared with this time last year there are around 6 percent more people saving money now. It appears that consumers are, generally, not spending as much of their money as they once were, preferring instead to build up a buffer should they need the cash for more important things in the future. People are still going out and spending their money, just not quite as much as they used to be.
As a Legal and General savings spokeswoman said, it is good that consumers are managing to change their habits, ensuring they have some money put to one side whilst still being able to enjoy themselves.
The Halifax has just announced that the Web Saver Extra savings account it offers will have an increased rate of interest, up now to 6.35 percent gross.
The increased rate offer is applicable to all customers be they new or existing ones and it is valid on balances as little as GBP1, the minimum amount needed to open the account, up to GBP100,000. Halifax Web Saver Extra account holders are able to manage their savings online and are allowed one withdrawal each year without affecting their interest payment. Any subsequent withdrawals will see thirty days loss of interest on the value of the withdrawal.
This particular Halifax savings account has been very popular with customers enjoying an excellent rate of interest, payment of which is made annually and added to the account.
The Abbey National has announced a reduction in the interest rates offered on several of its savings accounts, with cuts of 0.25 percent to match the recent base rate cut by the Bank of England.
Commencing on 1 May all Abbey National savings accounts with the exception of the eSaver Direct, Super 50 Plus and 50 Plus Saver will have the 0.25 percent cut on their rates. These ones mentioned will keep their rates as they were.
The Abbey National savings and investments director said that although the rates had been reduced on their accounts it was important to have a savings plan in place, especially in the current economic climate. It is a very competitive market and Abbey are committed to doing the best for their customers.
