UK Money News
17th July 2008
Inflation Buster ISA 'makes savings erosion-proof'
Savers can inflation-proof their money by opting for a new savings products from the Leeds Building Society.
The Inflation Buster ISA is guaranteed to beat inflation by paying the retail price index (RPI) plus 2.5 per cent.
This would see savers benefiting from a rate of 7.1 per cent over the term of the investment, should the RPI stay at its current rate of 4.6 per cent.
Karen Wint, general manager of marketing and customer services at the Leeds, said: "The current economic outlook makes the Inflation Buster ISA even more attractive following Mervyn King's open letter to the chancellor last month explaining the current level of inflation.
"The latest RPI figure of 4.6 per for June is up from 4.3 per cent in May, meaning that savers have already seen their real return eroded in the last twelve months by 4.6 per cent. Based on the latest information this is set to get worse."
Key features of the Individual Savings Account (ISA) include the option to close the account at any time and receive interest already paid as well as 2.50 per cent on the sum being withdrawn.
back to July's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
