ISAs: Interest rates slashed, so where can you find the best deals? Here’s our favourite six

ISAs: Interest rates slashed, so where can you find the best deals? Here’s our favourite sixThe improvements made in the Budget were supposed to reinvigorate Cash ISAs, but leading banks and building societies seem to be doing their best to undermine the changes. Cast your mind back to March. Inflation was falling, making it easier to make a ‘real return’ on your savings and the ISA rules were changed, allowing savers to shelter up to £15,000 each year from the taxman. There was even talk of interest rates rises! Fast forward to August. The Bank ...

Savings: Tie up your savings for 10 years? No thanks, but here’s five alternative options

Pound LandscapeWe all know savers have had it tough over the past few years. Low interest rates, pushed even lower by Government initiatives to help the mortgage market and relatively high inflation, have all combined to make it almost impossible for savers to get a ‘real return’ on their cash. It’s nearly always been the case that savers will get a better rate of interest the longer they are prepared to tie up their savings; a ...

Savings: Is the price to beat inflation worth paying?

iStock_000007329749XSmallEven though inflation has started to fall, the clamour for savings accounts which beat inflation has never been stronger. But whilst it’s important to beat inflation, is this the only thing savers should be taking into consideration when selecting a savings account? Why is it important to beat inflation? Simply put, if your savings don’t grow by an amount equal to inflation, the buying power will be reduced and you will lose money in real terms. To put it another way. If at ...

Savings: A new account to beat inflation

Leeds Building SocietySavers struggling to find a real, above inflation return, will welcome the launch of two new accounts from the Leeds Building Society. Inflation, as measured by the Consumer Prices Index (CPI), currently stands at 2.80%; savers who receive interest, after tax, of less than this figure, will see the real value of their savings shrink. Since the financial crisis savers have been hit by low interest rates, but the situation has been made worse by relatively high inflation and cuts to savings ...