Fixed bond interest rates rise by 30 per cent since January

Savers who can put their money away for the long term are able to earn 30 per cent more than they would six months ago, according to analysis by Telegraph Money. Those willing to put their money into fixed rate bonds are being rewarded with significantly higher interest rates, with Paragon Bank leading the best buy tables on their: One-year fixed bond Two-year fixed bond Three-year fixed bond Five-year fixed bond With interest rates on fixed savings bonds creeping up over the past few months, predictions of further increases are being made ...

Savings: A new inflation beating account for savers?

SavingOver the past few months, interest rates on savings accounts have fallen to record low levels and with inflation rates predicted to increase, savers can be forgiven for feeling pessimistic. However, has the Autumn Statement brought some much needed relief to beleaguered savers? Details are sketchy, but the answer may be “yes”, all be it in a very limited way. A new NS&I bond In his first, and as it turns out last, Autumn Statement, Philip Hammond announced that National Savings & Investments (NS&I) would launch a new bond in 2017. Mr Hammond said that ...

Savings: Savers are missing out, 6 top tips to get a better interest rate

Savers are missing out, 6 top tips to get a better interest rate 150pxA new report by the Financial Conduct Authority (FCA), has warned that millions of savers are missing out on the best interest rates, because they are not moving their cash to the best paying accounts. The report found that savers who opened an account five years ago and have stuck with it since are getting interest of just 0.3% per year, well below the rate of inflation. Even accounts opened in the past year with the larger banks ...

Savings: A warning for savers as interest rates predicted to rise six fold

iStock_000007329749XSmallMark Carney, the Governor of the Bank of England, has predicted that interest rates could rise to 3%, a six fold increase on current levels, by 2017. After five years of low interest rates, savers would of course welcome such an increase. But the uncertainty over the timing of any rate rise, makes planning tough for savers, especially those making end of tax-year Cash ISA (Individual Savings Account) contributions. How long should savings be tied up for?...