The consumer champion warned millions of people are earning less than 4% on their savings.
Martin Lewis is urging millions of people with money in a savings or cash ISA account to check it now as they could be missing out on higher interest rates. The consumer champion warned that any savings rate below 4 per cent “isn’t enough”.
Martin wrote: “I'm often met with reticence by some to switch savings even if they can earn far more. They tell me 'I'll just stick with my bank, I know it's safe'. I understand the impulse, after all saving is all about risk-free money. And for anyone worried about moving their hard-earned cash, he added: “All UK institutions have the same £85,000 per person savings safety protection, so if you're putting away less, as long as it's UK-regulated, you're protected.”
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