Cash in a flash: Happier returns for only a quid

Cash in a flash: Happier returns for only a quid

Savers with small amounts to invest now have a wider choice of where to stash their money as a number of building societies have drastically reduced the minimum opening balance required for some of their accounts in the past few weeks.

Financial data provider Moneyfacts has found that the Buckinghamshire, Derbyshire, Market Harborough, Newcastle, Nottingham and Principality have all dramatically reduced the opening balance required by savers to get the top rates. The biggest cut comes from the Principality, which previously required savers to have a balance of £6,000 in its Supersix account to get an interest rate of 4.05 per cent. Now anyone with savings of £1 or more can get the rate.

Savers with £100 rather than £2,500 can earn 4.6 per cent from the Derbyshire's EasySave Tracker and those with £1 rather than the previous £100 will earn 4.75 per cent in the Market Harborough's Onthedot account.

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'This is great news for savers as they now have a larger range of accounts available as a home for their savings,' said Rachel Thrussell, head of savings at Moneyfacts. 'As far as the mutuals are concerned, it is easier for them to make these changes to maintain market share, rather than having to go through the rigmarole and associated costs involved in launching a brand new product.'

However, the top rate on an instant access savings account with a minimum balance of £1 comes from the AA at 4.86 per cent with an introductory bonus.

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Handbag protection

Women drivers are being offered handbag and contents cover by a new insurer aiming to offer cheaper car insurance to the fairer sex.

Sheilas' Wheels, a division of esure.com, is offering female drivers up to £300 if their handbag is stolen from the car and a 24-hour counselling line for those suffering trauma on the road. It also offers a network of repairers trained to follow a 'female-friendly' code of practice.

Cost comparison website insuresupermarket.com compared the premiums against the rest of the market for a number of different scenarios. Richard Mason, director of insuresupermarket.com, says that women-only insurers can often be the most expensive option, but Sheilas' Wheels proved nearly £100 cheaper than Diamond and Girlmotor.com and topped the table in one of the scenarios. But in a different scenario two other female-only insurers, as well as eight mainstream insurers, quoted lower premiums.

£92,000 goes up in smoke

Bar staff will not be the only people hoping for a ban on smoking in public places - so must bank managers, who would like to see more cash in customer's accounts. The average smoker spends £92,000 on their habit in a lifetime, lighting up more than 6,000 times a year, according to Clerical Medical. Even social smokers - who only indulge in bars, clubs or restaurants - spend more than £11,000 in a lifetime.

Guardian Unlimited © Guardian Newspapers Limited 2005