Changing societies: the best return an investor can currently get from a building society may well be 500 pounds sterling plus payout if a society merges or is taken over. But societies are also being stirred into action on their fundamental product ranges

Article Abstract:

Building societies are under pressure to differentiate themselves from the competition during the current merger activity, with increased emphasis on product innovation. Bradford & Bingly and Norwich & Peterborough are calling for a change in the law so that prize draws can be offered to account holders, and National & Provincial is offering loyalty bonuses. There is a trend towards accounts sold and operated by telephone or post which tend to offer better rates than branch based accounts. Scottish Widows has recently introduced new phone and postal accounts and Direct LIne, an insurer, has plans to introduced a range of phone and postal accounts.

Savings Account Services, Services, Savings and loan associations

---

Invest in a Tessa before it's too late: Don't ignore your last chance to open a Tessa - these tax-efficient savings accounts are excellent value

Article Abstract:

Tessas are soon to be replaced by individual savings accounts, but there is still time to open an account. With Tessas all interest is tax-free and the account can be opened with as much as 3,000 pounds sterling. Deposits of up to 1,800 pounds sterling a year can then be made, to a limit of 9,000 pounds sterling. The annual survey showing maturity values for Tessas should be consulted when choosing a new or follow-on Tessa, as it will show the good long-term track records of some providers.

Commercial Banks, Management, Personal finance

---

The ups and downs of escalator bonds: escalator bonds are in vogue but investors should treat the advertised high interest rates with caution

Article Abstract:

Banks and building societies are keen to offer fixed term savings accounts with interest rates that rise each year, or escalator bonds. However the rates advertised are those offered in the final year rather than the average rate. A minimum lump sum is usually required and there are often heavy penalties if capital is withdrawn before the maturity date.

Similar abstracts:

• Abstracts: Revealing the world of RNA interference. Chemogenomic profiling on a genome-wide scale using reverse-engineered gene networks
• Abstracts: More power to the people. Nuclear U-turn heralds 2bn pounds sterling sale: the nuclear industry, which was once thought to be unsaleable, is heading for market with surprising haste. The government needs the money, and the City is ready to oblige
• Abstracts: Choosing a financial adviser. Moving forces: relocations are increasing as companies search for a better quality of lief - and business. But there are pitfalls
• Abstracts: Riding the trust tiger: despite the bad press, unit trusts remain the most convenient way for non-professional investors to put money into share and bond markets. An with a modicum of research, the risks can be reduced

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.