Martin Lewis is urging everyone with money in a savings account to check how much interest they are making on it and warns that if the rate is under 1.5% then you need to act now to boost it. The financial guru says the very least anyone should be earning, on any savings amount, is 1.5%.
In the latest edition of the MoneySavingExpert.com (MSE) newsletter, the founder of the hugely successful consumer website has shared his top tips to maximise your savings pot. Highlighting the current cost of living crisis and soaring inflation rates, Martin said that it’s “never been more important to maximise every penny of savings interest”.
For many of us, we think putting money into a savings account is a job well done and forget about it until it either matures or something pops up and we need the extra cash. But according to Martin and his team at MSE, we could be missing out on much better interest rates available right now - whatever the size of your savings pot.
