Savings

Most people recognise that it is wise to save a part of their income on a regular basis, to achieve their short or long term goals or to meet future income needs.

This section has been designed to provide valuable information about a number of different products that may be suitable for your savings. You can compare the terms offered by different companies. The comparison facility examines the interest rates offered by banks and building societies, and allows you to check your savings are obtaining the most appropriate interest rates.

Also included are details of other savings opportunities, such as Unit or Investment Trusts and Life Assurance Endowment policies. One or more of these plans may be appropriate for your savings needs. However, these products are normally only suitable if you intend to save for a long period.

All governments recognise how important it is to encourage people to save and they normally achieve this by offering tax incentives on a whole host of savings products. These incentives range from reduced levels of Income Tax on Deposit Accounts for most taxpayers through to tax efficient investment growth on products like ISAs.

Equity based investments do not afford the same capital security as a deposit account.

Note: the effects of inflation can reduce the spending power of any savings or investments you choose to make. You should take these effects in to account in any long-term plans. Additionally, the value of some savings or investments plans can vary and even reduce in value. If you need an explanation of the risks involved with any savings plan please contact us.

The Financial Services Authority does not regulate advice on deposit accounts.

The levels, bases and reliefs from taxation may be subject to change.

The value of investments and income from them can fluctuate (this may partially be the result of exchange rate fluctuations) and investors might not get back the full amount invested. Past performance is not a guide to future performance.