-
Women open more savings accounts but men deposit more cash
Women have good intentions to save – but it is men who manage to put more money away for a rainy day. Women open more savings accounts than men – but the value of men's savings is far greater, according to a new research note by Halifax. Last month, women opened the majority of savings products, opening 57pc of all new Fixed Term accounts, 53pc of Instant Access accounts and 55pc of tax-free Isas. However, despite opening fewer accounts, men tended to open their accounts with larger balances. The average balance for variable rate products opened by men was £8,936, compared to £7,664 for women – a difference ... (full story)