Savings & Banking News

National Savings & Investment (NS&I) is wielding the scythe, making dramatic cuts to the interest rates it pays on its market-leading savings accounts and bonds.As other savings rates,...

A sharp drop in the consumer price index (CPI) means that hundreds of savings accounts now beat the rate of inflation, but you’ll have to be a savvy shopper to find them. Few are offered by the...

The government has confirmed that the minimum age from drawing a personal pension will rise to 57 in 2028.People who pay into a pension can currently access their funds at 55, whether they pay-in...

Digital bank Monzo is introducing new charges from October, but only for the minority of customers who use the service “more as a spending app than a bank.”From 31 October 2020, some Monzo customers...

Low-income Britons deposited a record £32.1 million into Help to Save accounts in the six months to July and will earn government top-ups on their savings.Help to Save accounts reward savers with a...

Just 91 savings accounts currently on the market, including a single easy-access account, are beating the rate of inflation after the cost of living jumped last month.The Office for National...

Consumers are most pleased with banks Monzo and Starling, with the digital challengers topping the Competition and Markets Authority’s (CMA) semi-annual league table.Monzo was lauded for its mobile...

NatWest has cut the interest rates it pays on its full range of saving products, in response to the Bank of England reducing the base rate to historic lows in March.The bank explained that it had held...

Lloyds Banking Group has become the latest large employer in the UK to review its use of office space as a result of the move towards homeworking due to the COVID-19 lockdown.Chief executive, António...

Two of the UK’s major banks have registered massive losses for the second quarter, after setting aside billions to cover bad debts resulting from the coronavirus crisis.Lloyds Banking Group, the...