Interest

Lloyds and Bank of Scotland will be cutting the interest paid on balances of up to £4,000 on their Club Lloyds and Vantage accounts from this autumn – but as the rates can be beaten elsewhere, if you only have the accounts for the interest you could earn more by ditching and switching.

Fixed daily and monthly overdraft fees will be banned and replaced with a single interest rate from next April, the financial regulator has announced. 

The financial regulator has proposed a new price cap on rent-to-own firms to come into place next spring, meaning consumers can't be charged more in interest than they paid for the product. 

Two decent interest-paying current accounts from Lloyds and Bank of Scotland will have their rates cut from July, MoneySavingExpert can reveal - while Halifax is to increase the monthly fee for its Ultimate Reward packaged account.

Some banks will begin raising mortgage rates immediately, in the wake of the Bank of England's decision to increase the base rate to 0.5%.

The UK's key inflation rate hit 3% in September, the highest it's been since March 2012. As a result, there'll be a rise in the basic state pension of almost £5/week next April – and it will mean a number of other changes too.

MSE founder Martin Lewis has welcomed Labour's pledge to cap credit card interest so that no one pays back more than twice the amount of their original borrowing.

New bank Atom will tonight pull its headline-grabbing five-year fixed-rate mortgage due to "huge demand".

The new Investment Bond from Government savings provider NS&I will pay savers 2.2% for three years from April 2017, Chancellor Philip Hammond confirmed today. Despite its name it's a savings account that pays interest, it's not a risky investment.

The Bank of Scotland is cutting the headline interest rate on its current account 'Vantage' add-on from 3% to 2% in June, MoneySavingExpert.com can reveal - meaning you'll no longer be able to save £15,000 at 3% interest.