The average interest rate on instant access deposit accounts has risen above a psychological barrier, but savers shouldn’t get too excited, they won’t exactly be jumping for joy!
According to the financial information service Moneyfacts, the average interest rate on instant access deposit accounts has now risen to 1.01%.
Most savers won’t see that as a cause for jubilation, in fact the reaction could well be a resigned sigh and roll of the eyes.
Savings rates to beat inflation
The average rate of 1.01% is the highest for level for three years and compares favourably to this time last year when the ...