MONEY MORSELS

Energy price hikes

SMALL energy firms are hiking prices, mirroring their Big Six rivals. OVO Energy is hiking prices by 10 pc for 160,000 customers on its standard variable tariff, or an average of £112 a year, according to uSwitch. Ebico is raising prices by 16 pc, adding £169 to bills, and Tonik Energy by 14 pc, or £144.

Savings incentive

JUST 64,350 people have so far deposited cash into a government Help To Save account, which gives a 50p bonus for every £1 invested over four years. The deal is open to around 3.5 million people who are receiving certain benefits, such as working tax credit.

Isa rate rise

NATIONAL Savings and investments (NS&i) is increasing the interest rate on its Junior isa by 0.75 pc to 3.25 pc. You have until April 5 to use your annual £4,260 Junior isa allowance. The Government’s savings arm is also upping the rate on its Direct isa from 0.75 pc to 0.9 pc.

Mid-life MoT

EMPLOYEES seeking guidance on their career, health or finances are being offered mid-life MoTs via a new Government website ( your pension.gov.uk/mid-life-mot). Users are directed to information about calculating state pension age and help reducing the risk of illness. For those nearing retirement, there are links to flexible working ideas, for example.

Holiday fraud

MORE than 1,600 reports of cases where holidaymakers were scammed by fraudsters pretending to advertise villas were reported in 2017, according to official police figures. On average, victims each lost £2,052. Scammers lured in holiday shoppers looking for a bargain by using fake online adverts or making bogus sales calls.

Lloyds criticised

NICKY MORGAN, an MP and chair of the Treasury Committee, has criticised Lloyds Bank’s new overdraft fees, saying they ‘fly in the face’ of clarity. Previously, you paid 1p for every full £7 you went into your overdraft, charged daily. Under the new scheme, you pay 1p for every £6, £7 or £8, depending on how much you borrow.

Mental health cost

CONSUMERS with mental health conditions could be paying £1,550 more for basic services, warns Citizens Advice. The charity says providers should make it easier for those with mental disabilities to pick the best deals, keep up with payments and resolve problems.

Student debt

THE student loan system may penalise graduates on higher salaries, research shows. Investment platform AJ Bell says bigger interest rates for higher earners mean some graduates could repay their debt twice over if they stick to the minimum repayments for 30 years until the loan is wiped.