Claims extracted
24
sentences that state something as happening or true
Uncertain
4%
1 of 24 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
68/100
Daily Mail's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
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Savers are suddenly spoilt for choice if they want to earn 5 per cent on their cash.
asserted
they → see → cash
Several providers raised rates on their one-year bonds last week – and more are likely to follow as competition in the market hots up.
asserted
competition → raise → market
GB Bank has raised its rate to 5.05 per cent and Investec to 5 per cent.
asserted
Bank → raise → cent
Kent Reliance pays 5.06 per cent for 13 months.
asserted
Reliance → pay → months
Last week, the Bank of England held the base rate at 3.75 per cent, but that has not stopped banks and building societies increasing rates on fixed-rate savings accounts as they leapfrog each other to woo us.
asserted
they → hold → us
Unlike on easy-access accounts, these rates are based on what pundits think will happen to rates in the future – and markets are now pricing in five base rate hikes between now and the end of 2027.
asserted
markets → base → 2027
That’s good news for savers.
asserted
That → ’ → savers
Last week, the Bank of England held the base rate at 3.75%, but that has not stopped banks and building societies increasing rates on fixed-rate savings accounts
What’s less good is that the cost of living is rising.
asserted
cost → hold → living
Inflation jumped to 3.1 per cent for the year to August, and is expected to climb further.
asserted
Inflation → jump → August
You need to earn the equivalent of inflation just to stop the value of your nest egg from shrinking.
asserted
You → need → egg
So you end up with a real return of just 1.9 per cent if you grab a 5 per cent rate.
asserted
you → end → rate
Top rates on cash Isas if you fix for a year come from Kent Reliance at 4.82 per cent, Shawbrook and Charter Savings Bank at 4.81 per cent, and Vida Savings at 4.8 per cent.
asserted
you → fix → cent
For two years they pay 4.98 per cent, 4.97 per cent, 4.91 per cent and 4.9 per cent respectively.
asserted
they → pay → cent
If you tie up your money for five years, top rates include Shawbrook Bank at 5.25 per cent and West Bromwich BS at 5.2 per cent.
asserted
rates → tie → cent
All of these come with Financial Services Compensation Scheme protection to the tune of £120,000.
asserted
All → come → 120,000
As a basic-rate taxpayer, you are otherwise charged tax on any interest above £1,000 you earn in a tax year.
asserted
you → charge → year
Higher-rate taxpayers get a £500 allowance while additional rate payers get nothing.
asserted
payers → get → nothing
With interest rates at 5 per cent, a basic-rate taxpayer breaches their personal savings allowance with £20,000 saved and a higher-rate taxpayer with just £10,000 in their account.
This means that for anything above this, a 5 per cent rate equates to 4 per cent for a basic-rate taxpayer or just 3 per cent for a higher-rate taxpayer, as the rest would go to the taxman.
asserted
rest → breach → taxman
And from April it will be even less, as tax rates on savings are set to increase from 20 per cent to 22 per cent for basic-rate taxpayers, 40 per cent to 42 per cent for higher rate and 45 per cent to 47 per cent for additional rate taxpayers.
asserted
rates → set → taxpayers
I can’t see Chancellor John Healey changing that in his first Budget next month as he scrabbles for more money to fill Government coffers.
asserted
he → see → coffers
If you take out a product This is Money may earn a commission.
uncertain
This → take → commission
These deals are chosen by our editorial team, as we think they are worth highlighting.
asserted
they → choose → team
This does not affect our editorial independence.
asserted
This → affect → independence
Terms and conditions apply on all offers.
asserted
Terms → apply → offers
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