Consumers withdrawing billions due to poor returns on savings

A recently released report has claimed that consumers in the UK have been withdrawing billions of pounds worth of savings over the first couple of months of this year, and this is because of the paltry rates of interest now being paid on many instant access and notice accounts following the dramatic cut in interest rates over the past six months. It has been revealed that in many cases savers are receiving barely above zero in terms of interest on these accounts. Read more

Tags: angry consumers, england, bank, notice, January, pensions, building society, savings rates

Savings rates continue to tumble

The base interest cuts that have been applied by the Bank of England over the past few months have been welcomed by many borrowers and industries, and for many homeowners and borrowers the base rate cuts have left them with far more money in their pocket each month as a result in a drop in repayments. Read more

Tags: industry, bank of england, ISA, Mortgage loan, action