Martin Lewis issued a ‘call to arms’ for everyone with a savings account during the latest edition of The Money Show Live this week, urging viewers to check their interest rate as a matter of urgency. The financial guru told STV viewers that easy access rates can now pay three per cent and there are even some fixed-rates offering an impressive seven per cent for one year.
His message was clear - anyone earning below 2.9 per cent on any money they have in a savings account needs to up it. He said: "Top savings interest rates have more than trebled in a year, yet most people are still being ripped off earning diddly squat and it’s even worse if you’ve got cash ISAs.”
Despite the cost of living crisis, the consumer champion highlighted how ‘millions’ of people have still got savings tucked away and need to maximise them. “So check what you’re earning now and let’s up it,” he advised.
