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NSandI Offers More Choice And Higher Rates With Its British Savings Bonds

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.
What Is The Help To Save Scheme? Is It Worth Using?

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.
Top Fixed Savings Rates Rise Month-On-Month

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.
February ISA Deposits At Highest Level In Five Months

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.
Changes To Look Out For In The Months Ahead

4 weeks ago | moneyfactscompare.co.uk | Ella Mower

Despite no major tax changes in today’s Spring Statement, measures announced in last year’s Autumn Budget are set to come into effect. Today’s Spring Statement was void of any major tax changes as the Chancellor of the Exchequer, Rachel Reeves, attempted meet her “non-negotiable fiscal rules” while keeping the promises made in the Labour Party manifesto.
Bank of England Base Rate Paused At 4.50% | moneyfactscompare.co.uk

1 month ago | moneyfactscompare.co.uk | Ella Mower

But both mortgage and savings rates trend downwards following last month’s cut. With the Spring Statement less than a week away, the Bank of England’s Monetary Policy Committee (MPC) took a neutral stance in its meeting today by maintaining the base rate at 4.5%. This falls in line with many economists’ expectations.
More Than £50 Billion Sitting In ISAs Paying Less Than 2%

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.
Variable Savings Accounts A “Casualty” Of Base Rate Cuts

1 month ago | moneyfactscompare.co.uk | Ella Mower

With further base rate reductions expected this year, should savers consider a fixed account for guaranteed returns? Savers may be hopeful the Bank of England’s Monetary Policy Committee (MPC) maintains the UK’s central interest rate at its current level when it meets later this week, after three cuts within the space of six months sent variable returns tumbling.
More Than A Third Of Adults Don’t Have An ISA

1 month ago | moneyfactscompare.co.uk | Ella Mower

With the rising cost of living and effects of fiscal drag, can savers really afford to overlook the tax benefits ISAs offer? Many savers may be unnecessarily paying tax on their hard-earned cash, with more than a third (35%) of adults confessing to not holding an ISA. This is according to the second annual Savings Index from high street bank, NatWest, which uncovered a worrying lack of understanding surrounding the tax-benefits ISAs can offer.
More Choice For Switchers As NatWest Launches £150 Switch Bonus

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

Yet another current account switch incentive hits the market in the first few months of 2025. NatWest has become the latest provider to launch a current account switching bonus this year, with the bank now offering £150 to customers who move to one of its Reward current accounts. This switch incentive launched on 11 March 2025 and is available to new customers, as well as those who already bank with NatWest.