A Sainsburys Bank spokesman feels that there are more restrictions and conditions applied to savings accounts than ever before.
Having looked at the current state of the market the Sainsburys Bank spokesman has noticed how many savings accounts have restrictions on withdrawal amounts and periods, as well as how it impacts on interest rates, with some quite hefty penalties on some for making withdrawals during the year.
Another aspect that has been noted is the use of age limits on some savings accounts, targeting either the younger or older market. Ideally all categories of customer should be able to enjoy similar levels of interest and benefits believes the Sainsburys Bank spokesman.
A recent Legal and General survey has shown that the Welsh are the most likely to have money left at the end of the month after covering bills and essential payments.
Two thirds of people in Wales had money left over, compared with a national average of 53 percent and a surprising 43 percent in London. These findings really turn the general understanding of where the money is on its head. Although the cost of living in London is high it has always been thought that wages covered this difference with some to spare, but perhaps not.
A Legal and General spokesman felt the findings should prompt consumers to start putting some money aside into a savings account or something similar. Having disposable income does not mean it has to be spent straight away, saving some can make a massive difference to the future.
The Abbey National Super Saver account offer is being extended beyond the previous deadline of 7 September to give more people a chance to benefit.
The offer gives customers the opportunity to earn a whopping 9.1 percent interest for a 12 month period as long as they invest the same amount into any Abbey National investment product. The minimum deposit is just a pound, with the cap set at GBP2 million. Payments can be taken either monthly or at the end of the 12 month term providing great flexibility for savers.
The Abbey National decision to extend the offer is seen by many commentators as a real helping hand for savers, with the building society understanding the needs of consumers who want to see a strong return on their money as well as enjoying both security and flexibility.
