Savers are being urged to check their savings accounts and ensure the interest rate on them is giving them a fair deal, with new research suggesting they may be hundreds of pounds better off with building societies rather than banks.
A period of higher-than-usual interest rates is making it a tricky time for mortgage holders and businesses, but for those with cash sitting idle it’s a moment of strong possibility, with a huge number of savings accounts offering between 4-5 per cent interest – comfortably above the rate of inflation, which sits at 3.1 per cent.
