There are now more than 1,300 savings accounts on the market offering inflation-busting rates.
People with money in a savings account are being urged to check they are not missing out on a better rate of return after analysis by Moneyfactscompare.co.uk found that there are now more than 1,300 inflation-beating accounts on the market. The best deals are offering 5 per cent, so if your hard-earned savings are languishing in an account paying less, now is the time to move them.
Rachel Springall, a finance expert at Moneyfactscompare.co.uk, said: “Savers will find a bit of volatility within the top rate tables since last month, so it’s essential to review their nest egg to ensure it’s still paying a competitive rate. “Providers have been reducing fixed rates over recent months as expectations grew for future interest rates to come down. Thankfully, such volatility has calmed.”
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