According to the Legal and General MoneyMood survey, the people of the UK are changing their habits regarding saving.
Compared with this time last year there are around 6 percent more people saving money now. It appears that consumers are, generally, not spending as much of their money as they once were, preferring instead to build up a buffer should they need the cash for more important things in the future. People are still going out and spending their money, just not quite as much as they used to be.
As a Legal and General savings spokeswoman said, it is good that consumers are managing to change their habits, ensuring they have some money put to one side whilst still being able to enjoy themselves.
The Alliance and Leicester has just announced a new savings account that pays interest at 9 percent gross per annum. It is a one year fixed rate account open to customers who invest in their Balanced Savings and Investment Plan.
The Balanced Savings and Investment Plan is made up of a portfolio bond and a savings account. The minimum deposit for the bond is GBP5,000 and at least GBP1,000 for the savings account. Before leaping in investors are advised by the Alliance and Leicester that the recommended term for the bond should be at least 5 years, meaning any money placed here should be left alone for a period of time.
An Alliance and Leicester spokesman said the offer combined a mix of short and medium term savings with the potential for excellent returns, much better than a regular savings account.
Tesco Finance has just announced an improved rate for its internet saver account, paying 6.25 percent AER for 12 months.
The finance arm of Tesco has brought in a 12 month additional interest bonus of 1.5 percent, enabling them to bring this outstanding rate to the market. As a spokesman for the company said, this offer could not be timed any better, since consumers are now looking for the best savings rates possible as they look to make the most of their money.
Customers can invest up to GBP100,000 in the Tesco Finance Savings Account, enjoying the bonus interest rate for the first 12 months, after which it will revert to its regular 4.75 percent AER.
