Banks & Finance News
ISAs are changing into a new, simpler product as part of changes announced in the 2014 Budget. From 1 July, the 'New ISA' (NISA) will have an annual allowance of £15,000 - the biggest ever increase to ISA limits - and all or part can be invested in cash, stocks and shares or whatever combination of the two that you choose.
* Output levels rise solidly in April, albeit at slowest pace in four months * Faster increases in new business and backlogs of work * Inflationary pressures strengthen slightly. Scotland's private sector economy continued to grow in April, the latest Bank of Scotland PMIreport showed, with output and employment both rising on the month.
RBS and NatWest extend services to customers through the Post Office. From later this year, NatWest and RBS personal and business customers can make deposits or pay in cheques at any of the Post Office’s 11,500 branches Customers can already withdraw cash, and check their balance NatWest and RBS are extending the services personal and business customers can use through the Post Office from later this year to include pay-ins of cash and cheques.
The Highland Council is to write to the UK Government, the Scottish Government and the Convention of Scottish Local Authorities to highlight its total opposition to the high-cost short-term credit offered by pay day lending companies and the misery that spiralling debt brings to the poorest in society. A priority, they say, is to cap the level of interest on the repayment of loans, which can be as high as 4,000 per cent, at no more than 60 per cent.
As we approach 2013, nearly five years on from the start of the �Credit Crunch� of 2008, households in the Highlands and Islands Region continue to face many financial challenges. There are challenges for both borrowers and savers in equal measure; whether it is the saver who has seen interest paid on savings being slashed, or the borrower who can no longer access credit from their Bank.
HI-SCOT Credit Union is now operating across the Highland area and provides an opportunity for people in the community to come together to save, and borrow money at low rates. Credit Unions are not-for-profit co-operatives, with surpluses being returned to members.
Scotland's 143,000 small and medium sized businesses will soon have access to a previously unavailable source of finance, with the launch of a pioneering point of sale rental finance facility. Bank of Scotland Business Banking and innovative Australian financial services company, RentSmart have created a joint venture, RentSmart Ltd that will launch the new facility in the UK in May.