Building societies continue to demonstrate that they offer greater value to long-suffering savers than banks, figures produced by Savings Champion has shown.
Last week, National Savings & Investments (NS&I) announced that it will reduce the interest rates on its three savings accounts with effect from May 2017, two of which currently appear in our best buy tables...
The latest inflation figures out this week will be another blow for savers, creeping upwards and effectively eroding your interest earned in real terms. Although not unexpected the real treat of rising inflation means savers will need to work even harder to mitigate the effects.
It could be argued that the biggest news for many savers in the last week has been the announcement from NS&I about rate cuts taking effect from May, which you may have already seen in this newsletter. However, it’s not all bad news in the savings market...