TESSA tussle
Article Abstract:
The first batch of TESSA savings accounts are now beginning to mature, with 20 billion pounds sterling to be paid out in 1996. This is prompting banks and building societies to offer very high interest rates to encourage savers to sign up for 'follow-on' TESSAs. Someone who has not had a TESSA before may invest 3,000 pounds sterling in a follow-on TESSA, while someone who has had one before may invest up to 9,000 pounds sterling. It is worth considering a fixed-rate TESSA, as these are generally paying higher interest rates at present than variable-rate TESSAs.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1996
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Accounts that cost a packet
Article Abstract:
Some UK high street banks are reintroducing charges for current accounts in credit by linking accounts to a range of services. Latest accounts offer discounts on the banks' products, but the customer has to pay for them. It is worth considering carefully exactly which services may be required before deciding to use a current account which bears charges. NatWest's Advantage Premier account, for example, costs 150 pounds sterling a year, and offers discounts at certain restaurants and reduced price theatre tickets.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1996
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Tessa comes of age
Article Abstract:
The first Tax Exempt Special Savings Accounts (TESSAs) schemes reach maturity during the first quarter of 1996, but it is hard to compare the different rate of returns available, which are known to vary by as much as 1,110 pounds sterling with the maximum sum invested. Approximately two million people in the United Kingdom will benefit from the scheme and will be able to reinvest their initial investment of up to 9,000 pounds sterling.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1996
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