Pensioner bonds will pay 4% interest over three years and 2.8% over one year
If you’re aged 65 or over, you’ll be able to save up to £10,000 in each bond
Details of the ‘pensioner bonds’ have been released. These fixed rate, fixed term savings accounts will go on sale in January and will be available to anyone in the UK who’s aged 65 or over. You’ll be able to buy them direct from National Savings & Investments. The interest rates, at 2.8% over one year and 4% over three years, are much higher than anything else you can get on the market at the moment.
Co-op bank has failed a Bank of England stress test. What does this mean?
Why does the Bank of England stress test on banks matter and what does it tell us?
The Bank of England has released the results of its most recent stress test. It says that Co-op bank failed the stress test and Lloyds Banking Group and RBS/NatWest were at risk. But that doesn’t mean these banks aren’t safe or that your savings are about to disappear. The Bank of England stress test is very tough (described as creating conditions not seen since World War I).
10 things you need to know about making a savings claim to the Financial Services Compensation Scheme.
If your bank or building society were to go bust, how should you claim against the FSCS or Financial Services Compensation Scheme?
If you have money in a bank or building society savings account, current account or with a credit union, your money is likely to be protected by the UK's savings compensation scheme. If the bank, building society or credit union goes bust, how do you make your claim?