What Makes Consistent Savings Account?
You will find for many savers frustration is on the rise. Many have become aware of the cuts in interest the savings accounts are offering and find that these short term deals for better accounts are becoming to tedious. Consumers don’t have time to switch savings accounts and they often don’t want to take the risk to their credit. As the moment there are a couple of companies that are offering more consistency regarding savings accounts helping consumers find their way to a better market.
Mr. Haggar with Moneyfacts.co.uk finds that the recent events with savings accounts are beginning to show the importance of having a better interest rate, and how the consistency of certain accounts, are winning over consumers. The more accounts that are going to be consistent over a longer duration will increase the consumers. There are a few types of consumers when you talk about investing and savings accounts. You will find there are the consumers who are tired of the inconsistency and that they wish for a better savings account. In fact they are most aware of the base rates being cut rather than rising. You will also find consumers who don’t have the time to switch accounts and play the interest rate game. They often don’t take advantage of the short term deals and introductory bonuses that are offered. The last type of consumer is going to be the one trying to establish their nest egg and therefore looking for a better interest rate. In this case most of them are finding their interest rates are decreasing to a point of 1.5% gross with their nest egg account, vexing them.
Nationwide is one company that is trying to warm customers of short term bonuses that are about to expire, and they are offering consistency it is unlikely that there will be much support for short term accounts at the moment. Moneyfacts.co.uk is hoping that consumers will begin to take more of an interest in what is going on to help the consistency pan out. They are hoping that more accounts of both types will begin to be an option.
Here are a few interesting tid-bits. First two thirds of the products offered are from the building societies that are giving short term higher interest rates, and then cutting the base rate. Internet savings is going to be the most consistent area to invest in. It seems that Sainsbury’s Bank is one of the most consistent for the last 18 months and that Nationwide is offering consistency for the last three years.
Mini Cash ISA are also taking the top spot with their Direct ISA’s, which have been consistent for the last 18 and 36 months depending on the branch. Yorkshire BS is an e ISA that offers three years of consistency through the Mini Cash ISA’s. You will also find the Anglo Irish Bank is dominating the current market with a 7 day notice account. It is rise to research all of the available accounts to check for interest rates and consistency.
Back To January 2008 Financial News
Purchasing with Credit Cards
Traps with Credit Cards
Understanding Credit Scoring
What Is A Credit Reference Agency
Testing Your Debt
10 Ways To Save Money
Benefits of Savings
How To Save of Invest Your Money
Individual Savings Accounts
Sainsbury’s Bank Internet Savings Account
Product Types For Savings
Saving with Child Trust Funds
Savings and Investments Advice
Trouble Ahead with Free Banking
Warning: Savings Rate Change
What Makes Consistent Savings Account?
Credit Building Solutions
Britain Needs to Protect Itself
Free Banking or Unfair Bank Charges
Reintroducing Child Savings
How To Get The Most From Reward Credit Cards - Part 1
How To Get The Most From Reward Credit Cards - Part 2
UK Economy Growth
UK Rate Cut
US Recession and Britain |
