Savings News

Edward Jones' new cash fund

The Edward Jones Premier Cash Fund Shares is designed to offer investors a fair and competitive return and easy access to their money. There is a minimum investment of £5,000, the Fund is professionally managed and buys short-term cash orientated investments at the highest credit rating possible.

Deposit protection to be raised to £50,000?

The Treasury document "Financial stability and depositor protection: further consultation" says the the authorities are considering raising the deposit protection compensation limit under the Financial Services Compensation Scheme to £50,000.

Nationwide puts ISA transfers on hold

From Monday 7 July, Nationwide Building Society has temporarily closed its cash ISAs, including Fixed Rate ISA Bonds, to customers transferring their ISA from other providers. The Society will continue to offer new ISAs for people who have not yet used this year's ISA allowance, using cash or a cheque but not a transfer.

School fees rise more than twice the rate of inflation

Private school fees have risen by 40% over the past five years - the cost of a private school education for day pupils has increased by more than twice the rate of inflation since 2003, according to new research from Halifax Financial Services.

Base interest rate on hold at 5%

As expected, the Bank of England's monetary policy committee (MPC) kept base rate unchanged at 5%. However, the MPC remains worried about inflation and it's likely that the Governor, Mervyn King, will continue to have to write letters to Chancellor Alistair Darling explaining why inflation as measured by the Consumer Price Index (CPI) is outside the MPC's target range for a couple of months yet.

How taking income from a growth fund makes sense

Long-term savers who need a regular 'income' from their investments no longer have to opt for an insurance bond or a high income fund thanks to the withdrawal facility now available on most mutual funds.

Alliance & Leicester extends high interest offer

Alliance & Leicester (A&L) is extending the 8.5% AER (8.19% gross) credit interest offer on both its Premier Direct and Premier 50 current accounts until 30 September 2008. The introductory interest rate offer is available on balances up to £2,500 fixed for one year.

Financial Capability Action Plan unveiled

Action to give people more support to tackle their money concerns has being announced by Yvette Cooper MP, Chief Secretary to the Treasury and Hector Sants, CEO of Financial Services Authority (FSA). The Financial Capability Action Plan sets out new measures to give people free advice and assistance to help them to manage their finances

Stamp of approval for alternative investments

Despite the global credit crunch, the GB Rarities Index shows stamps have increased in value by 38.6% (2007: 10%) and the Index shows no sign of slowing. Rare stamps from Great Britain have significantly outperformed run of the mill investments. One stamp sold in 2004 had increased in value from £65,000 to £125,000 - a 92% increase in just three years.