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 best possible 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.