Savings: Interest rates start to creep up, but be careful!

Interest rates start to creep up, but be careful!New research has shown that interest rates on savings accounts are starting to creep up; but the good news comes with a health warning. According to the comparison service Moneyfacts, the average interest rate on the top 10 ‘easy access’ savings accounts, has risen to 1.48%, up from 1.39% a year ago. The rise comes at a time when speculation has intensified that the Bank of England may push up interest rates over the course of the next few months. Whilst savers, who have had ...

Savings: Are you one of the 25% of savers being ripped off?

Are you one of the 25% of savers being ripped off?New research has found that one in four savers is being ripped off by banks and building societies paying poor rates of interest on savings accounts. The Financial Conduct Authority’s study has found that savers are losing out on around one billion each year in interest, due to low interest rates and the tactics employed by the UK’s banks and building societies. The key findings of the study include: More than 90% of adults in the UK have a savings account, but 25% of savers, ...