Tesco Finance has just announced an improved rate for its internet saver account, paying 6.25 percent AER for 12 months.
The finance arm of Tesco has brought in a 12 month additional interest bonus of 1.5 percent, enabling them to bring this outstanding rate to the market. As a spokesman for the company said, this offer could not be timed any better, since consumers are now looking for the best savings rates possible as they look to make the most of their money.
Customers can invest up to GBP100,000 in the Tesco Finance Savings Account, enjoying the bonus interest rate for the first 12 months, after which it will revert to its regular 4.75 percent AER.
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.
According to a parenting and relationship specialist young people in England, Wales and Scotland should learn how to save money, in a step to help them learn the value of money.Helping children learn and understand how to save money themselves is a great way for them to learn. By letting them contribute to purchases made by the family for items such as toys or treats, it can demonstrate how to handle money and learn the responsibility that goes with it. In today’s society it is becoming more difficult to manage money as most purchases are made with a debt or credit card. But children need to see real money transactions being made and the importance of dealing in cash transactions.Savings accounts can be a great way for young people to learn about how to save their money. There are many types of savings accounts that children can open, so that they can experience how to save and how it all works. See our savings accounts comparison table for more information or our guides and tips pages.
