Shockingly, there are over 600 savings accounts paying just 0.30% or even less, which means that approximately 14% of ALL accounts are not beating inflation, even at this paltry level. Is your money in one of them?
Check your rate and make the move. There is so much choice out there offering better returns and now most of you will be receiving interest tax free because of the introduction of the Personal Savings Allowance. So, if any of your accounts are paying less than inflation or you simply wish to increase your return, here are just a few of the best rates available - make the switch:
TSB Bank - Classic Plus Account pays 5.00% on £1 up to £2,000. Along with Nationwide below, this account pays one of the highest rates for a current account.
Nationwide - FlexDirect Current Account pays 5.00% on £1 up to £2,500.
Santander - 123 Current Account pays 3.00% on £3,000 up to £20,000. One of the best current accounts for savers due to paying a high interest on balance up to £20,000. A go-to account for many savers.
Punjab National Bank - Fixed Deposit Account - 5 Year pays 2.75% on £1,000+. The current market leading long term fixed rate bond, fully protected by the UK Financial Services Compensation Scheme by up to £75,000 per person.
RCI Bank - Freedom Savings Account pays 1.45% on £100+. One of the very best, straightforward easy access accounts on the market. RCI Bank is covered by the French savings deposit scheme, the Fonds de Guarantie des Depots et de Resolution (FGDR). Protecting up to a maximum of €100,000 per customer.