You are here: Home - Uncategorized -

Building Society savings break records

0
Written by:
21/11/2007

Building societies attracted record savings of more than £3bn in October, as high interest rates continue to attract savers, according to the Building Societies Association (BSA).

Societies had net receipts of £3,024m in October 2007 compared to net receipts of £772m in October 2006.

Commenting on the figures, Adrian Coles, director-general of the BSA, said: “The majority of these deposits are funds withdrawn from Northern Rock, with the attractive savings products offered by building societies continuing to appeal to customers looking for the best home for their money.”

“At £3,024m, October net receipts for building societies were the highest monthly figures ever, beating the record of £2,821m set last month, and almost 4 times the figure deposited in October 2006.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Not so easy access

Savers should be aware that 6 of the top 10 easy access savings accounts carry penalties for fund withdrawals, according...

Close