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The Independent UK
The Independent UK
Business
Vicky Shaw

Looking for a new savings account? Here are some key benefits and pitfalls to consider

With a new tax year approaching in April and inflation having picked up, now could be a good time to have a look around at savings options (Alamy/PA) -

A new tax year will start in April and the choice of savings deals has recently ballooned – meaning now could be a good time for some people to start the search for a new savings account.

And with the Bank of England base rate having been reduced to 4.5% in February, it’s worth households checking whether the rates on the accounts they hold have been trimmed back.

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