Savings News

Bradford & Bingley rights issue rescued

Bradford & Bingley has confirmed it is going ahead with its rights issue, revised again back up to £400 million from £258 million with the backing of major UK-based shareholders, including M&G Investment Managers, Legal & General Investment Management, Insight Investment and Standard Life Investments, with an unchanged price of 55p per share.

A&L extends fixed rate savings

Alliance & Leicester (A&L) has extended the offer period for its one year Fixed Rate Savings Account, paying 9.00% gross pa/AER. However, the offer is only available to customers also choosing to invest in the bank's Balanced Savings & Investment Plan.

A Cheshire capital guarantee

Cheshire Building Society has launched a new Guaranteed Capital Plus Account (GCPA), provided by Credit Suisse International.

Post Office goes for growth

The Post Office has launched a new 1-year Growth Bond paying 7.05% - the bond coming with a minimum investment of £500.

Retirees sitting on £270K?

Retired UK couples are sitting on average savings and assets (not including their pension) of £269,479, with single pensioners having average savings and assets of £134,739. Yet many are failing to make their money work for them, according to insurer, Prudential.

A guarantee from Abbey

Abbey has announced the latest launch in its range of guaranteed investment products linked to the FTSE 100 Index - the products designed to give investors access to the stockmarket with the security of a capital guarantee.

A 7% fix with Newcastle

Newcastle Building Society has rolled-out a new Option Bond with a fixed rate of 7% gross/AER on a minimum investment of £500 (maximum £1,000,000).

A lifetime guarantee from B&B

Bradford & Bingley has announced the launch of three new savings products - the just launched plans guaranteeing to match Bank of England base rate plus 0.25% p.a. for life.

Treasury Committee calls for more FSA action

The Treasury Committee has published its Twelfth Report of Session 2007-08, Inherited Estates (HC 496). In the report it concludes that City watchdog, the Financial Services Authority (FSA), isn't providing a robust enough framework to manage the conflicts of interest inherent in proprietary life funds.

A&L ups e-Saver offshore rates

Alliance & Leicester International (ALIL), the Isle of Man based offshore savings bank, has increased the interest rates on its eSaver Offshore range of online savings products.