Deposit Account rates:


We check the rates on all your cash deposits accounts where possible at your annual review.


Chris Tweedie, Financial Planner


However it is always worth keeping an eye on your own accounts as well. You may be surprised how rates on ‘old accounts’ can be reduced to make way for ‘new style’ accounts.


Rates as follows:


Internet Account: 3.05% (Includes 1.51% bonus for 12 months) – minimum deposit £1,000 (Nationwide)


No Notice Account: 3.00% (Telephone Account – Includes 2.46% bonus for 12 months) – minimum deposit £1 (ING Direct)


Regular Saver Account: 4.00% – minimum monthly deposit £1 (Norwich & Peterborough)


Overs 50s Account: 2.75% (Telephone Account) – minimum deposit £1(SAGA)


Childrens Account: 2.00% –- minimum deposit £1 (Chelsea)


Mini Cash ISA: 3.35% (Internet Account) – Instant Access, minimum deposit £1 (AA)


Emergency and cash reserves are a high priority for your financial security. They are the foundation of your financial health and should be one of the first steps of your financial plan. If you do not have enough accessible cash then you may be forced to sell assets such as shares and bonds, at inopportune or even bad times. Doing so could cost you a lot more than had you kept enough back. The bottom line is to have adequate emergency reserves to handle most, if not all, unforeseen circumstances that may arise.


Although cash is a good short term investment, over longer periods of time historically it has not kept pace with inflation. At the present time inflation is higher than the rate of interest you earn on deposit, so this money is effectively losing value each year.


We believe risk and return are related and in order to have the prospect of providing a real (in excess of inflation) return in the longer term it is necessary to commit monies to assets such as Property and Equities. You should consider how much you want to keep easily accessible, and how much you are prepared to invest.


Source: Moneyfacts June 2011


14


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16