Rhiannon Philps

1 week ago | moneyfactscompare.co.uk | Rhiannon Philps

News contents The tax risk Even with the increased interest rates, how competitive are British Savings Bonds? National Savings and Investments (NS&I) launched new issues of its one- and five-year British Savings Bonds today (15 April), which now sit alongside its two- and three-year accounts. This is the first time NS&I has offered these four different terms at the same time since 16 February 2010.

1 week ago | moneyfactscompare.co.uk | Rhiannon Philps

At a glance Help to Save accounts are available to those claiming and receiving specific benefits. They allow you to save between £1 and £50 each calendar month. It’s possible to earn up to £1,200 with a Government bonus. What is Help to Save? Help to Save is a Government-backed savings account, operated by National Savings and Investments (NS&I), that lasts for a maximum of four years.

3 weeks ago | moneyfactscompare.co.uk | Rhiannon Philps

Savers can now secure a higher fixed rate than one month earlier. After seeing a steady decline in recent months after several cuts to the base rate, it’s refreshing to see fixed savings rates buck this trend by increasing between March and April. Average and leading rates across the entire fixed bond sector all rose month-on-month after a number of significant increases by providers, analysis by Moneyfactscompare.co.uk revealed.

3 weeks ago | moneyfactscompare.co.uk | Rhiannon Philps

ISAs continue to be popular among savers with just a few days left until the new tax-year starts. Savers deposited an extra £3.6 billion into cash ISAs in February , according to the latest Money and Credit release from the Bank of England. This is up from £3.2 billion in January . February’s figure marks the highest sum deposited into cash ISAs in a single month since September 2024, when a total of £3.9 billion was added to these tax-free accounts.

1 month ago | moneyfactscompare.co.uk | Rhiannon Philps

There’s still time to check your savings are working hard enough for you. While savers have been taking advantage of their ISA allowance this tax-year, many could be maximising the return on their hard-earned cash. More than £52 billion is sitting in instant access adult cash ISAs earning interest of 2% or below, according to analysis of CACI data by Paragon Bank. This total is split between 7.2 million accounts, with each account holding an average balance of approximately £7,252.