Clydesdale Bank recently announced that it is raising interest rates on its savings accounts, as Saffron Building Society relaunches and reprices its range of savings products. This move is part of a wider trend of banks and building societies raising rates in order to remain competitive in the current market.
The Clydesdale Bank has raised the interest rate on its savings accounts from 0.5% to 0.75%. This is the first time the bank has increased its rates since the start of the year, and it is a welcome move for savers who are looking for better returns on their money. The bank has also announced that it will be introducing a new range of savings products which will offer higher rates of interest than its existing products.
Meanwhile, Saffron Building Society has relaunched and reprised its range of savings products. The society has increased the interest rate on its savings accounts from 0.5% to 0.75%, and has also introduced a new range of products which offer higher rates of interest than its existing products. The society has also announced that it will be introducing a new range of fixed-term savings products, which will offer savers the opportunity to earn higher returns on their money over a fixed period of time.
The move by Clydesdale Bank and Saffron Building Society to raise interest rates and introduce new products is part of a wider trend of banks and building societies raising rates in order to remain competitive in the current market. With interest rates at historic lows, banks and building societies are looking for ways to attract customers and offer them better returns on their money.
For savers, the news of Clydesdale Bank and Saffron Building Society raising interest rates and introducing new products is welcome news. It means that savers have more options available to them when it comes to earning a better return on their money, and they can take advantage of the competitive rates being offered by these institutions.
Overall, the news that Clydesdale Bank and Saffron Building Society are raising interest rates and introducing new products is good news for savers. It means that they have more options available to them when it comes to earning a better return on their money, and they can take advantage of the competitive rates being offered by these institutions.