Loyal bank customers are not necessarily rewarded, so shop around for a better-paying account
MPs this week had a go at bank bosses about their stingy savings rates, particularly on instant access accounts, saying that they seemed to be “taking advantage” of loyal customers. But you don’t have to put up with rubbish rates, as there are savings accounts out there paying up to 7% interest.
The official Bank of England base rate is now 4%, yet the returns offered by some widely held accounts are lagging way behind. The Barclays Everyday Saver easy access account offers only 0.55% interest and Santander Everyday Saver pays 0.6%, while the Lloyds Bank Easy Saver is offering only 0.65% unless you have got £25,000-plus stashed away. Continue reading...
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