Property News · September 5, 2016

As cash Isas leave savers despairing, it could be worth taking a chance


With the Bank of England base rate at a record low and the outlook poor, we look at places where your money could earn more – if you accept riskThe past few years have been a grim time for savers. After the Bank of England cut its base rate last month to a record low, anyone hoping to earn from their funds will be forgiven for uttering a sigh of desperation.Among the most notable casualties have been cash Isas, with the average rate paid standing at just 0.99%, and potentially more gloomy news ahead. “Savers should brace themselves for more cuts to come,” says Rachel Springall, finance expert at Moneyfacts. Last week, NatWest became the latest bank to slash rates: its cash Isa now pays just 0.01%. But amid the gloom some solace for savers can be found at Principality Building Society, which pays online savers 1.1% on £1 and above. Continue reading…

Source : theguardian.com
Read more…As cash Isas leave savers despairing, it could be worth taking a chance

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