Savers are earning next to nothing on their cash. Interest rates on instant access accounts have halved since the start of 2020 to just 0.21% on average, according to official Bank of England data1.
Worse, many high street banks are paying a pathetic 0.01% on their instant access accounts — that’s a measly £1 of interest per year on a £10,000 balance.
What can you do? Sure, you could look for a bank or building society paying a higher rate. But you’ll struggle to find even 1% for instant access savings. And notice accounts and fixed rates aren’t much better.
Invest to earn income of up to 5.6%*
Now could be the time to consider investing to earn a higher return on your interest-starved savings. At InvestEngine, our Income portfolios offer estimated yields of 2.4%, 3.3% or 5.6% a year*, depending on the selected portfolio.
They invest mainly in government and other bonds via a handpicked selection of low-cost exchange traded funds (ETFs).
As well as squeezing more income out of your savings, you’ll have the potential for some capital growth. Plus, we pay out the income monthly, direct to your bank account.
Start investing today
We’ll suggest a portfolio to suit your needs and then manage the investments for you, all for an ultra-low management fee of just 0.25%.
Capital at risk. Eligibility to invest in an ISA depends on personal circumstances. The value of your portfolio with InvestEngine can go down as well as up and you may get back less than you invest. ETF costs also apply.
*Income yields are estimated and variable, and based on historic income and ETF prices as at 30 September 2020.
This communication is provided for general information only and should not be construed as advice. If in doubt you may wish to consult a professional adviser for guidance.