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This week sees many banks and building societies increase rates on their fixed rate bonds, and Investec Bank plc re-launch its Online Flexi Saver which pays a chart-topping 0.71% AER.
Savers may feel they are left with little choice other than to watch their cash be eroded away by inflation, but there are steps they can take.
Savers may feel they are left with little choice other than to watch their cash be eroded away by inflation, but there are steps they can take.
With inflation rising to a 10-year high of 5.1% during November, savers will not find any savings accounts that can match or beat the current rate of inflation
The amount of excess savings held by UK households has increased from £112 billion in January to £163 billion in October, research from Investec reveals