9 out of 10 Brits believe it is important to save according to a study carried out by the Nationwide Building Society.
Although it is good to see so many people recognising the importance of having a fund of money to call upon should it be needed only around 55 percent of people actually put money aside on a regular basis. Approximately 25 percent of people save money occasionally whilst almost 20 percent do not have savings at all.
This situation is not through choice in many instances though,as a Nationwide Building Society spokesman explained. With the cost of simply paying bills, buying food and running a car stampeding ever higher it becomes financially impossible for many people to save regularly, if at all. This is a shame since some of the best savings rates for many years are now available to customers.
See how Nationwide Building Society savings accounts compare at Moneygossip.co.uk
Barclays customers who applied for the Tax Haven Cash ISA have received apologies from the bank following significant delays before their accounts were opened.
An apology is all they are going to receive though it appears as Barclays has stated it will not pay the interest that investors would have accrued if the accounts had been opened on time. It seems that a particularly heavy demand for the ISA created a number of administration difficulties for Barclays leading to delays in accepting applications and opening the accounts.
Assuming the person applying for the Barclays ISA had invested the maximum allowed of GBP3,600, they would have lost around GBP9 in interest so far. This in one way is not a vast amount of money, but the underlying principle is of much greater importance. Multiplied by the number of people taking out this particular Tax Haven Cash ISA it also becomes a much larger sum.
Compare rates on ISAs from Barclays and many others at Moneygossip.co.uk
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.
