Worth getting the BEST savings account Today
As shown in the latest statistics released by National Savings and Investments (NS&I), Britons are now saving an average of £90.12 a month, with just six per cent of the population not putting money aside at all, while only 13 per cent of those polled said that they had nothing put to one side.
Given this trend towards financial frugality, it would be a shame to be punished by poor savings accounts rates, with experts urging savers to shop around for the best savings account deal, with the rewards potentially high for those making the effort.
Michelle Slade, a spokesperson from moneyfacts.co.uk, stated: “If the rate you are receiving is uncompetitive then you should look to move elsewhere.
“The best account for you will depend on your circumstances. If you don’t need access for a while then fixed rate bonds offer some of the most competitive rates.
“Alternatively, if you can give notice before making a withdrawal you can get higher rates than on instant access accounts.”
What’s more, it is often worthwhile turning away from the high street and going online, with a number of banks and building societies offering better returns on their internet savings accounts than on their branch-based accounts, with online banking arguably more convenient, too.
With financial observers currently split over whether the Bank of England will opt to push interest rates up in the foreseeable future, the rates on savings accounts may not get better anytime soon, suggesting even slightly improved returns should be seized upon right now.
