Saving cheer for young and old

Despite continuing gloom over falling savings rates, younger and older investors can still raise a small cheer at some offers. Abbey National is offering under-15s improved rates of 3 per cent gross on Action Saver accounts of between pounds 250 and pounds 499. For investors under 23, Norwich and Peterborough has a HeadStart Savings Bond, paying 6.3 per cent gross on more than pounds 250. Instant access is available.

Dudley Building Society has an over-60's Diamond scheme, with rates of 5.25 per cent gross for investments over pounds 5,000. Market Harborough Building Society has a 55-Plus one-year bond, offering 6.8 per cent for savings over pounds 5,000 and 7.4 per cent for investments of pounds 25,000-plus.

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