Having looked at the savings habits of the nation the Halifax can now highlight which parts of the country save the most, and the least.
Top of the Halifax savings league is London, with an average savings balance of over GBP14,200. In second place was South Buckinghamshire, followed by Shrewsbury to make up the top 3 saving locations. The top performing savers outside the south of England can be found in Derbyshire, having an average savings pot of just over GBP11,600.
A spokesman from the Halifax was pleased to see how good the average figures were but did hope that those without such levels of savings would aim to increase the amount they save.
The Nationwide Building Society is readying itself for the provision of savings products to customers in the Republic of Ireland.
As long as the proposal is approved by both the FSA and the Irish equivalent then the Nationwide Building Society will begin selling savings products to Irish customers by telephone, online and through the post. The move is being seen as a good strategic option for the Nationwide as it expands their geographic coverage and increases the funding options.
Industry commentators have said that the Nationwide Building Society is already in a strong financial position so this step into Eire is set to improve that position still further.
Egg, best known for their Egg card, has just announced a new interest rate on their savings account of 6.05 percent gross.
Requiring a minimum deposit of just GBP1 and open to both existing and new customers the Egg card savings account is expected to be very popular. It also allows free access to the money held, with no penalties or notice periods needed. After the first 12 months at the introductory rate the account reverts back to the standard variable rate, currently 4.75 percent gross.
An Egg card spokesman, discussing the savings account, said that the introductory interest rate is one of the best available for easy access accounts and, with the rate guaranteed for 12 months offers an excellent vehicle for savers.
