Savers benefit from the liquidity crisis as fixed rates rise again - Savings - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Savers benefit from the liquidity crisis as fixed rates rise again

Savers benefit from the liquidity crisis as fixed rates rise again

Category: Savings

Updated: 31/10/2008
First Published: 07/12/2007

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

It seems that some institutions had almost pre-empted the recommendations issued by the FSA on the 4th of December and are already assessing their funding and liquidity positions. As a result they are already attempting to bring in more funds through savings accounts.

We have seen the most dramatic change happen in the shorter term fixed rate savings account market, further adding to speculation that the institutions are hoping to build up their funds through savings account deposits.

The most recent changes to short-term fixed rate savings accounts deals are:

National Counties Building Society now offers 6.91% (min. 6-month term)

Icesave now offers 6.65% (min. 6-month term)

This is an excellent opportunity for savers to bag themselves an outstanding deal, but hurry, these kinds of deals don't last!

Savings Accounts Best Buys - Fixed Rates

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.