Welcome!

Symbian Authors: Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Traditional V's New Banks: How Savings Accounts Fare

CHESTER, England, November 13, 2012 /PRNewswire/ --


  • New kids on the savings block can offer more competitive deals

Analysis from MoneySupermarket has revealed that a host of new banking entrants can currently offer consumers a better return on a range of savings products, more so than deals offered by the traditional high street banks.

Easy Access ISAs

Marks & Spencer Bank is currently offering a rate of 3.00 per cent on its Easy Access ISA*, while The AA offers a rate of 2.70 per cent AER on its Postal Access ISA however, there are minimum deposits of £100 and £500 respectively on these accounts. By comparison, the best offering from one of the traditional high street banks is 2.64 per cent with Barclays Loyalty Reward ISA which also includes a bonus of 0.60 per cent for 12 months, and is only available to existing customers.

Fixed Rate Bonds

When it comes to Fixed Rate Bonds there are also some interesting deals around that go beyond just the traditional high street offers. Shawbrook's Fixed Rate Bond account tops the table for one year bonds with an AER of 3.00 per cent although there is a minimum deposit of £5,000. Bank of Baroda offers a rate of 2.95 per cent, and this account requires a minimum deposit of just £500. However, even Tesco Bank offers a better interest rate than the main high street banks, at 2.75 per cent and with a minimum deposit requirement of £2,000. The best one-year offerings by RBS and NatWest both pay 2.30 per cent AER with a minimum deposit of £2,000, whilst Santander insists on just £500 for its bond paying 2.30 per cent. 

Easy Access Savings

Despite significant falls in interest rates, it is the new players who continue to offer rates ahead of the high street banks. Tesco Bank's Internet Saver account offers a rate of 2.40 per cent, but this does include a bonus rate of 1.15 per cent over 12 months. The best deal offered by one of the high street banks is Halifax's online saver paying 2.05 per cent, although this account doesn't include any bonus rate.


Kevin Mountford, head of banking at MoneySupermarket commented: "We've seen a rise in new competition on the high street, for example with the supermarkets and new entrants such as Metro Bank appearing, which has created more competition and choice for consumers. The newer entrants are offering some good accounts at the moment with interest rates that are currently edging ahead of the more traditional high street banks, meaning savers can get a better return on their money. However, some have a larger deposit requirement so it's important savers check all options first. It is also worth remembering that the Financial Services Compensation Scheme (FSCS) protection levels for new entrants is the same £85,000 that you get from the main high street banks.

"Our analysis underlines the importance of not necessarily accepting the deal being offered by your bank. Shopping around for a home from your savings can help you maximise the returns on offer, especially when rates have been so volatile and every penny counts. However, it is also important to keep an eye on the rate being paid on your account as although you may be offered good rates initially, they will drop over time, no matter which provider your savings are with."

    Main Banks
 
    Fixed Rate Bonds - based on GBP25,000
                                     Minimum
       Provider         Term         Deposit     AER
    Royal Bank of
    Scotland
    Fixed Rate Bond
    Internet Only
    Addition           1 Year       GBP2,000    2.30%
    NatWest
    Fixed Rate Bond
    Internet Only
    Addition           1 Year       GBP2,000    2.30%
    Santander
    Fixed Rate Bond    1 Year        GBP500     2.30%
    Halifax
    Fixed Saver        1 Year        GBP500     2.25%
    Lloyds TSB
    Term Deposit       1 Year       GBP2,000    2.00%
    Barclays
    Fixed Rate
    Savings Bond       1 Year        GBP500     2.00%
    HSBC
    Fixed Rate
    Saver              1 Year       GBP2,000    1.80%


    Best Buys
 
    Fixed Rate Bonds - based on GBP25,000
                                     Minimum
       Provider         Term         Deposit     AER
    Shawbrook
    Fixed Rate Bond
    Issue 3            1 Year       GBP5,000    3.00%
    Bank of Baroda
    MAX Fixed Rate
    Bond               1 Year        GBP500     2.95%
    UBL
    Fixed Term
    Deposit            1 Year       GBP5,000    2.75%
    Tesco Bank
    Fixed Rate
    Saver              1 Year       GBP2,000    2.75%
    Metro Bank
    Fixed Term
    Savings            1 Year        GBP500     2.50%


    Easy Access ISAs - based on GBP5,640
                      Minimum
       Provider       Deposit        AER      Transfer In
    Barclays                        2.64%
    Loyalty Reward               (includes a
    ISA (existing                0.60% bonus
    Barclays                        for 12
    customers only)     GBP1       months)        No
                                    2.35%
                                 (includes a
    Halifax                      2.10% bonus
    ISA Saver                       for 12
    Online              GBP1       months)        Yes
                                    2.00%
                                 (includes a
                                 1.00% bonus
    Lloyds TSB                      for 12
    Cash ISA Saver      GBP1       months)        Yes
    NatWest
    e-ISA               GBP1        2.00%         Yes
    HSBC
    Cash e-ISA
    (existing HSBC
    customers only)     GBP1        1.75%         Yes
    Royal Bank of
    Scotland
    Instant Access
    Cash ISA            GBP1        0.55%         Yes
    Santander
    Easy ISA            GBP1        0.10%         Yes


    Easy Access ISAs - based on GBP5,640
       Provider    Minimum Deposit     AER      Transfer In
    Marks &
    Spencer
    Advantage Cash
    ISA                GBP100         3.00%         Yes
                                      2.70%
                                   (includes a
    The AA                         2.20% bonus
    Postal Access                     for 12
    ISA (Issue 4)      GBP500        months)        Yes
                                      2.50%
                                   (includes a
    Tesco Bank                     0.50% bonus
    Instant Access                    for 12
    Cash ISA            GBP1         months)        Yes
    Virgin Money
    Easy Access
    Cash eISA
    Issue 2             GBP1          2.40%         Yes
    Metro Bank
    Instant Access
    Cash ISA            GBP1          2.35%         Yes


    Easy Access Savings
    Based on GBP1,000
         Provider          Min Invest            AER         Bonus
    Halifax
    Onilne Saver              GBP1              2.05%         N/A
                                                             1.00%
    Santander                                                for 12
    eSaver (Issue 9)          GBP1              1.50%        months
                                                             0.75%
    Barclays                                                 for 12
    e-Savings Reward          GBP1              1.26%        months
                                                             1.10%
    Lloyds TSB                                               for 12
    Easy Saver                GBP1              1.20%        months
    NatWest
    e-Savings
    (existing NatWest
    customers only)           GBP1              1.00%         N/A
    Royal Bank of
    Scotland
    Direct Saver              GBP1              1.00%         N/A
    HSBC
    Online Bonus Saver        GBP1              0.75%         N/A
    Sourced by http://www.moneysupermarket.com 13.11.2012


    Easy Access Savings
    Based on GBP1,000
        Provider      Min Invest  AER     Bonus
    Tesco Bank                          1.15% for
    Internet Saver       GBP1    2.40%  12 months
    Marks & Spencer
    M&S Everyday                        1.00% for
    Savings              GBP1    2.35%  12 months
    Virgin Money
    Easy Access
    eSaver Issue 4       GBP1    2.20%     N/A
    GE Captial Direct
    Bonus Saver Issue                   0.70% for
    5                   GBP500   2.20%  12 months
    Sainsbury's Bank
    Extra Saver          GBP1    1.80%     N/A


MoneySupermarket.com compares (at 30th Oct 2012)

  • 129 car insurance brands and 100 home insurance brands
  • 10 broadband providers and 18 energy providers   
  • 30 unsecured loan and 5 secured loan providers
  • 62 mortgage lenders and 29 credit card providers
  • 66 savings providers and 37 current account providers.
  • Over 950,000 mobile phone deals

Our customers

We help our customers to save money on all of their household bills by providing a free, easy to use online service so they can compare a wide range of products in one place and find the product most suited to their needs. Our size means we are able to offer our customers exclusive, market-leading deals, including some they can't even get direct from providers.

Our providers

By having considerable volumes of informed customers actively looking for products and ready to purchase, we offer our providers an efficient and cost effective customer acquisition solution across all of our channels. This enables our providers to target their marketing spend in an effective and completely measurable way.

Our revenue comes predominantly from fees paid to us by product providers when a customer clicks through to their website and actually applies for or purchases a product. It is a success based marketing fee.

Our customer commitment

  • We make it easy to find the brands you expect to see
  • We strive to ensure a product cannot be found cheaper by going direct
  • We let you remain in control of your personal data
  • We are independent and impartial
  • We make it easy to switch and save
  • We strive to always show the most competitive product available

Contact: Paul Lawler, PR Manager, Tel: +44(0)1244-370-317, Email: [email protected]


SOURCE MoneySupermarket.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, will describe how to revoluti...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Robin Raymond, Chief Architect at Hookflash Inc., will walk through the shifting landscape of traditional telephone a...
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it’s a mix of architectural style...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastructures and safe-keep the privacy of sensitive information? This session will outline how each and every connected device can uphold a core root of trust via a unique cryptographic signature – a “bir...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.