A quarter of Britons aged over 55 lack confidence in their current financial position and nearly half have experienced a reduction in their disposable income, Paragon Bank research has revealed.

Paragon Bank has increased rates on its one and two-year fixed-rate ISAs, available from today. 

Paragon Bank has given savers a boost in the new tax year with the relaunch of its Triple Access ISA account, paying 3.35% AER.

A near net £40 billion flowed into fixed-rate savings accounts in the period between Jan 2 and April 9 as savers responded to higher rates.

More than two-thirds of over 55-year-olds are uncomfortable with the idea of a cashless society, despite over 80% admitting to using cash less frequently than five years ago.

Grandparents are supporting their children and grandchildren financially and through free childcare to help them cope with the high cost of living, Paragon Bank research has found.

Savers grew fixed-rate savings account balances during the final quarter of 2022 as they responded to rising rates, Paragon Bank analysis has found.

Savers recorded the highest level of switching activity on record during the fourth quarter of 2022 as they responded to rising rates, Paragon Bank analysis has found.

Over half of instant-access non-ISA savings accounts are still earning 0.5% or less, despite savings rates increasing in recent months. 

Brits are set to scale back on their holidays this year as they adapt to cost-of-living, Paragon Bank research has found.