The Alliance and Leicester has just made available two new savings options for those aged 50 and over.
The first one is the Premier 50 fixed Rate Bond and gives a return of 7.5 percent per annum. Suitable for investments between GBP1,000 and GBP10,000 this particular Alliance and Leicester bond matures at the end of September next year so interested parties are advised to act promptly.
The second option is a longer term one, being a 5 year Growth and Income Account which offers an interest rate of 7 percent on half the amount invested with the other half receiving 50 percent of the growth achieved on the FTSE 100 over the term. This Alliance and Leicester account needs a minimum investment of GBP3,600 and as such can also be used as a cash ISA.
Although we are always told that saving should be one of the first things we do the latest survey results from the Nationwide Building Society show that only a quarter of us are ranking it highly.
The main reason for this at the moment has to be the cost of living, which is changing the focus of the population towards covering the rising costs of bills rather than saving. This is supported by an aspect of the Nationwide Building Society study that showed how over 60 percent of people felt they were not saving enough.
In real terms this is the time when people should save even harder than usual. Looking at an uncertain future consumers really need to be building up a resource they can call upon should they face unexpected costs. The Nationwide Building Society, along with most other financial institutions, suggests having enough cash to manage for around three months.
Zurich Insurance has expanded the number of funds it offers to investors, aiming to give more options to better suit customer requirements.
Eighteen new Sterling Bonds have been introduced as well as 22 Sterling Mutual Funds. The combination of options now allows investors to choose from a much wider variety of asset families. Zurich Insurance customers will be able to structure a portfolio that best meets their needs and risk profile, meaning less compromise.
A Zurich Insurance spokesman said that these new multi-manager funds will be most appealing to investors looking for a diverse portfolio and seeking to rate their options on the underlying approach to risk.
