Regular savings prove popular with holidaymakers
02 September 2009 / by Andy Davies
As this summer draws to a close, many Brits have already begun saving for next year’s holiday in the sun.
According to Halifax, 51 per cent of Brits are looking ahead to summer 2010 by putting money in to savings accounts.
Of those who are saving for their holidays, 83 per cent have chosen to save a little each month in a regular savings account, compared to 31 per cent who prefer to save lump sums.
This year, almost three quarters of people in the UK intended to use their savings to pay for their summer holidays.
More than half of Brits aged between 16 and 24 headed to somewhere in Europe on their holidays this year, while 42 per cent of people aged between 45 and 54 ventured outside of Europe.
The Halifax research found that 44 per cent of holidaymakers are likely to spend as much as £500 per person on their travels, while 28 per cent will spend up to £1000 and a further 15 per cent will spend in excess of £1000 per person, making saving a necessity.
Pleased to see people are looking to save in preparation for their holiday, Flavia Palacios Umama, head of Halifax savings products said: “It is great to see that so many people are saving towards their annual holiday which should give them a real sense of achievement on a well deserved vacation.
“This leaves them free to enjoy the sunshine and not worry about a financial holiday hangover when they get home.”
© Fair Investment Company Ltd
Sorry, your search has returned no results. |
* Income payments and returns are dependent upon the FTSE 100 Index.
Provider | Account | Interest Rate (AER) | Term | Apply |
---|---|---|---|---|
The Access Bank UK » |
3 Year Fixed Rate |
2.20% per annum |
£5,000 | Apply Now > |
Earn 2.20% fixed interest – 3 year term – Minimum deposit £5,000 – No withdrawals permitted. FSCS Protected | ||||
The Access Bank UK » |
2 Year Fixed Rate |
2.02% per annum |
£5,000 | Apply Now > |
Earn 2.02% fixed interest – 2 year term – Minimum deposit £5,000 – No withdrawals permitted. FSCS Protected | ||||
Vanquis Bank » |
4 Year Fixed Rate Bond |
2.40% per annum |
£1,000 | Apply Now > |
Earn 2.40% gross/AER fixed for 4 years. Save £1,000 – £250,000. No withdrawals during the term. Individual or joint accounts available. Annual or monthly interest. FSCS Protected | ||||
The Access Bank UK » |
1 Year Fixed Rate |
1.72% per annum |
£5,000 | Apply Now > |
Earn 1.72% fixed interest. 1 year term, save from £5,000 to £500,000, no additional deposits or withdrawals permitted, FSCS Protected | ||||
Vanquis Bank » |
3 Year Fixed Rate Bond |
1.85% per annum |
£1,000 | Apply Now > |
Earn 1.95% gross/AER fixed for 3 years. Save £1,000 – £250,000. No withdrawals during the term. Individual or joint accounts available. FSCS Protected |
Sorry, your search has returned no results. |
* Income payments and returns are dependent upon the FTSE 100 Index.
Provider | Account | Interest Rate (AER) | Term | Apply |
---|---|---|---|---|
RCI Bank » |
Freedom Savings Account | 1.30% | Instant Access | More Info > |
MARKET LEADING. Earn 1.30% gross/AER. Instant Access. No notice periods. Unlimited payments and withdrawals. Pay in from £100. RCI Bank are protected up to a total of €100,000 by the FGDR, the French deposit protection scheme. Manage account online. | ||||
Ford Money » |
Flexible Saver |
1.22% |
Instant Access | More Info > |
Earn 1.22% AER variable interest. Interest can be paid monthly or annually. Open an account singly or jointly. Minimum deposit £1. Unlimited deposits and withdrawals permitted. FSCS Protected | ||||
AA Savings » |
Easy Saver | 1.15% | Easy Access | More Info > |
1.15% gross/AER. Instant Access. Free withdrawals and no notice period. Deposit from £100. Includes a fixed bonus of 0.95% gross fixed for the first 12 months. Quick and easy online application | ||||
Aldermore Bank » |
Easy Access Account | 1.00% | Easy Access | More Info > |
1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest. |
Gross is the interest you will receive before tax is deducted.
AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Sorry, your search has returned no results. |
$(document).ready(function(){ $("#ctl13_GeneralComparisonTabsTable1_divTablesWraper .comparison_table_tabs_container a").click(function(){ var $this = $(this); var TableStyle = ''; var $tab;
if (TableStyle=='uswitch') $tab = $this.parent('li'); else $tab = $this.parent('div').parent('div').parent('td');
var $activeTab = $('#ctl13_GeneralComparisonTabsTable1_divTablesWraper .comparison_table_active_tab');
if ($tab.attr('class')=='comparison_table_active_tab'){ return false; }
$activeTab.removeClass('comparison_table_active_tab'); $activeTab.addClass('comparison_table_inactive_tab');
$tab.removeClass('comparison_table_inactive_tab'); $tab.addClass('comparison_table_active_tab');
$('#ctl13_GeneralComparisonTabsTable1_divTablesWraper .TableTabDiv').hide(); $('#ctl13_GeneralComparisonTabsTable1_divTablesWraper #' + this.className).show();
return false; }); });
function openFactSheet(url) { var w = window.open(url, '', 'width=1000,height=800,scrollbars=yes,resizable=yes'); w.focus(); }