August was an important month for the financial industry in the United Kingdom and Europe as a whole. While the Bank of England holds key rate at 0.5 percent and pumping 50 million pounds into the economy of the United Kingdom on behalf of the quantitative easing, the European Central Bank (ECB) announced that they keep their prices at 1 percent as well.
Therefore, when it comes to the rescue this month, banks and building societies are signs of strong competition. In short, it is clear that those who are saving their money for a while likely to benefit them - especially when fixed-rate bonds are affected. For investors who go from a solid return on their savings, it seems to have new options available every day with the average long-term with more than 1.5 percent of fixes, as the Bank of England keep their prices announced in the first week of August (according to telegraph.co.uk).
to allow the fixed-rate bonds to investors, the exact interest they earn (after tax) charge at the end of the period initially set. Unlike the ISA and other savings accounts, you can be no money at a fixed rate bonds in the period, but the benefits of this economy is best achieved if one considers the high availability rate in the last year (5 percent) Compared to the current base rate of 0.5 percent. In comparison, the ISA tax-free and a certain amount of money can be added over time.
Interestingly, this level had a negative effect on the ISA, the average 1.43 percent only. But, as research shows that the published thisismoney.co.uk less than 200 savings accounts that earn less. For example, Barclays Active Savings Account offers an interest rate of 0.5 percent, while many are not much better with the Alliance and Leicester instant access with a rate of only 0.10.
But on the whole has to have the telegraph, at least increase in the average savings interest rate - but by a margin much smaller than that of fixed-rate bonds. Of course, this new perspective on the financial sector and the focus on fixed-rate bonds and the weak Bank of England base rate of the ECB, this competition even more - which means that fuel those who have money left over, it should be a set of options , get viable, to the best of him.
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