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.
Good advice comes from Sainsburys Bank as they advise consumers to look at the different savings accounts available and choosing the one that best suits their needs.
Sainsburys Bank looked at the top 50 savings accounts currently on the market, specifically the instant and easy access ones to see how they worked out for customers. A dozen of them restricted the number of withdrawals available, 4 of them had penalties for withdrawals and 9 were for specific age groups.
Considering these factors and understanding how well they fit into your existing lifestyle is key to getting the most out of savings accounts said Sainsburys Bank and they are correct.
The Nationwide Building Society informs us that people are losing around GBP248 million through expired or unpaid Child Trust Fund vouchers.
According to data gathered by them a quarter if the vouchers have expired while over 40 percent of the valid ones have not been used so far this year. In financial terms this, said the Nationwide Building Society, means almost GBP13 million each year is being lost in interest earnings alone.
A further word of caution came from a Nationwide Building Society spokesman who explained that if a suitable provider is not chosen by the parents then the government can allocate one for them, though this may not be in the best interests of the child. Child Trust Fund Vouchers are an excellent tax efficient savings vehicle and it is a shame more people are not using them.