Latest news with #highinterest
The Independent
23-06-2025
- Business
- The Independent
The new current account that offers cashback and 7 per cent savings interest
Digital bank Zopa has officially entered the current account market with the launch of its new offering, "Biscuit," promising customers high interest rates and cashback rewards. The move sees the online lender aiming to disrupt traditional banking by offering 2 per cent interest on current account balances and a linked savings account boasting a 7.10 per cent rate. The "Biscuit" account provides a 2.00 per cent AER (annual equivalent rate) on balances held within the current account itself. Beyond interest, customers can also benefit from a 2.00 per cent cashback on household bills, applicable to up to £1,500 of direct debits annually. The account is linked to a regular saver option, allowing customers to earn a substantial 7.10 per cent interest on deposits of up to £300 per month. After a 12-month period, this regular savings account transitions into an easy access savings account, currently offering a 3.50 per cent rate. Zopa Bank has confirmed that customers will then have the flexibility to open another regular saver to continue benefiting from the higher rate. Merve Ferrero, chief strategy officer at Zopa Bank, shared the strategic intent behind the new product, stating that "Biscuit aims to deliver great value across everyday spending and saving." A survey commissioned by Zopa indicated that nearly a quarter (24 per cent) of people chase cashback offers while nearly a fifth (19 per cent) have multiple bank accounts and financial products in a bid to find value, sidestep fees or to be rewarded for their loyalty. A third (33 per cent) of people surveyed said they prefer the bulk of their bills and significant outgoings to leave their account on or close to payday, so they know how much money they have left to spend. One in eight (12 per cent) people have some 'no spend' days during the week and more than a third (37 per cent) use mobile banking to stay on top of their finances. The research was carried out by OnePoll, among 2,000 people across Britain who are in employment, in June. Rachel Springall, a finance expert at said: 'It is exciting to see another challenger bank launch a current account into the fray for consumers hoping to make their money work harder for them. Digital banks are offering some lucrative benefits and are a refreshing alternative to the major higher street banks. 'The perks of traditional current accounts do tend to vary depending on how a customer uses it.' She said the Zopa account 'may be suited to consumers who don't want the hassle of opening a variety of accounts to cover different needs'. Ms Springall said it is vital that customers work out how much they will fully earn from any account.
CBS News
18-06-2025
- Business
- CBS News
Stuck with high-rate credit card debt? Make these 3 moves before July.
Compounding credit card debt needs to be addressed sooner than later, especially in today's high-rate climate. Getty Images Being saddled with credit card debt is always damaging to your financial health. But in the economic landscape of recent years, it can be even more threatening than usual. With the average credit card interest rate just barely under a recent record high, and the average credit card debt load close to $8,000, approximately, making the minimum monthly payments as usual won't work right now. Minimum payments, after all, could take years to erase what you owe, all on the assumption that you don't add any additional debt in the interim. Against this backdrop, then, and against the reality that the interest rate climate is unlikely to cool enough to help credit card users in any material way, there are some smart moves worth making right now. Making these moves in a smart but expedient way could be the difference between having your debt compounded even further or regaining your financial independence. So, consider making the three moves below right now, before July 1. See which debt relief technique makes the most sense for your credit card debt here. 3 credit card debt relief moves to make before July Want to reduce your credit card debt permanently? Consider making these three moves now, in the final days of June: Check your current credit card interest rates The average credit card interest rate is 21.37% right now, equating to $21.37 in interest for every $100 borrowed. And that's just the average rate, meaning that you may be paying even more, depending on your credit card company and your credit profile. So start by checking what your current credit card interest rates actually are. And if they're around that rate (or higher), look for ways to immediately reduce them. This can begin with a simple phone call to the company to explore your options, but it can extend to items like balance transfer credit cards, which often come with much lower rates. Just don't become complacent with today's high rates. With compounding interest to contend with, even seemingly manageable debt balances can quickly become out of control. So, take action sooner rather than later. Explore your debt relief options online today. Calculate your repayment timeline Can you pay off what you owe by making minimum payments, or slightly more than minimum payments, with a reasonable timeline? If you can do so without damaging your finances or severely reducing your budget, then consider doing so now by making a higher-than-usual June payment. If you can't, however, then it may be the prompt you need to explore other, more extensive alternatives. You won't know which group you fall in, however, without first calculating your repayment timeline. So start there, both tied to what you're currently paying off as well as what you may be able to do by making some financial adjustments. And, be realistic about your future credit card usage, as it won't help to calculate a timeline without the use of a credit card in totality, especially if you're already accustomed to its presence in your everyday budget. Explore your credit card debt relief options There is no uniform credit card debt relief option. And that's a positive, as there's likely an option that can be tailored to your circumstances. If you owe more than $5,000 and have a financial hardship causing you to remain behind on payments, you may qualify for credit card debt forgiveness. If you just need help building a payoff plan, however, credit counseling may be better. Or a debt management program may suffice. Debt consolidation loans, meanwhile, may not be considered a traditional credit card debt relief solution, but if it means paying down your debt with less interest, over a shorter period, without the damage to your credit score that some other solutions come with, it could be exactly what you need. But you won't know which is the most appropriate until you explore all of your credit card debt relief options in detail. Start that process now, so you're prepared to pursue the optimal one this July. The bottom line You may be stuck with expensive credit card debt right now but it doesn't mean you have to remain in that financial quagmire much longer. Start by checking your credit card interest rates this June, both for opportunities to cut them down and to better determine a more accurate repayment timeline. And be open to all potential credit card debt relief options, including those offered by professionals. By making these three timely moves now, credit card users can potentially stop their debt situation from worsening and, more importantly, start improving it as soon as July 1.
Yahoo
06-05-2025
- Automotive
- Yahoo
Why Niu Technologies (NIU) Is Surging in 2025
We recently published an article titled Why These 15 Vehicles & Parts Stocks Are Surging In 2025. In this article, we are going to take a look at where Niu Technologies (NASDAQ:NIU) stands against the other vehicles and parts stocks. Certain automotive companies have held up surprisingly well in the current environment, and that's especially true with companies that supply automotive parts. The high interest rate regime was supposed to crush automotive companies across the board, and early tariffs specifically targeted countries that produced the most automotive parts for the U.S. Even then. These stocks have done well since high interest rates have made it difficult for low-income consumers to buy new cars. Instead, they have opted for repairing their existing vehicles, which has been a tailwind for automotive parts companies for the past two years. The average age of vehicles was already at a record 12.6 years in 2024, so this tailwind isn't going away anytime soon. Customers who have higher incomes have kept on buying new vehicles. It is mostly because of them that consumer spending has held up across the board. Here are the biggest winners from this trend. Even during bear markets, there are pockets of the market that perform exceptionally well. For example, I identified 15 Financial Services Stocks that are up the Most in 2025 in another article. Methodology For this article, I screened the best-performing vehicles & parts stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). Niu Technologies (NIU): Among EV Penny Stock From $10 to Under $1 An avid cyclist riding a sleek electric motorcycle on a rugged city street. Niu Technologies (NASDAQ:NIU) Number of Hedge Fund Holders In Q4 2024: 5 Niu Technologies (NASDAQ:NIU) is a leading provider of smart urban mobility solutions, specializing in high-performance electric motorcycles, mopeds, bicycles, kick-scooters, and e-bikes. Niu Technologies (NASDAQ:NIU) reported strong financial results on March 17, 2025, for the fourth quarter and full year 2024. Fourth-quarter revenues increased 71.1% year-over-year to RMB 819.2 million, and full-year revenues rose 24.0% year-over-year to RMB 3.3 billion.
Yahoo
06-05-2025
- Automotive
- Yahoo
Why Cooper-Standard Holdings Inc. (CPS) Is Surging in 2025
We recently published an article titled Why These 15 Vehicles & Parts Stocks Are Surging In 2025. In this article, we are going to take a look at where Cooper-Standard Holdings Inc. (NYSE:CPS) stands against the other vehicles and parts stocks. Certain automotive companies have held up surprisingly well in the current environment, and that's especially true with companies that supply automotive parts. The high interest rate regime was supposed to crush automotive companies across the board, and early tariffs specifically targeted countries that produced the most automotive parts for the U.S. Even then. These stocks have done well since high interest rates have made it difficult for low-income consumers to buy new cars. Instead, they have opted for repairing their existing vehicles, which has been a tailwind for automotive parts companies for the past two years. The average age of vehicles was already at a record 12.6 years in 2024, so this tailwind isn't going away anytime soon. Customers who have higher incomes have kept on buying new vehicles. It is mostly because of them that consumer spending has held up across the board. Here are the biggest winners from this trend. Even during bear markets, there are pockets of the market that perform exceptionally well. For example, I identified 15 Financial Services Stocks that are up the Most in 2025 in another article. Methodology For this article, I screened the best-performing vehicles & parts stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A skilled technician installing a seal on a car engine in a Cooper-Standard Holdings factory. Cooper-Standard Holdings Inc. (NYSE:CPS) Number of Hedge Fund Holders In Q4 2024: 14 Cooper-Standard Holdings Inc. (NYSE:CPS) is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems primarily for the automotive industry. Cooper-Standard's stock price surged significantly in late April and early May 2025, jumping 46% in the month leading up to May 3, 2025. This rise was primarily driven by the company's strong first quarter 2025 financial results reported on May 1, 2025.
