Savings Champion’s Post

💸 The savings market is on the up thanks to rising interest rates and increasing competition. With over £244 billion of savings held in current accounts earning no interest, savers are starting to wake up to the benefits of switching to a fixed-rate account. Read more here 👉 https://lnkd.in/eN6FejmS #Savings #FixedRate #Interest

🗞 The Times (Jack Barnett) and City AM (Lars Mucklejohn) published our analysis highlighting the struggles UK households face keeping their money in banks.  💬 “Around £1.15tn was sitting in accounts earning less than that average, according to analysis by investment platform Lightyear. This figure made up nearly two-thirds (66 per cent) of UK deposits.” “Banks aren’t passing on the central bank rate and instead are taking the profit for themselves,” Martin Sokk, co-founder and chief executive of Lightyear, the investment platform that analysed the savings data published by the Bank of England, said." "The top reason for saving in the UK is for a rainy day – it’s clear that people want to easily access their money, but decent rates are only available when it’s locked away,” Sokk added." 👉 Lightyear offers 4.5% on all uninvested GPB with no limits, tracking the live Bank of England rate and passing value back to customers minus a flat 0.75% fee. There’s instant access, no minimum deposit criteria, and no maximum thresholds either. Capital at risk. Terms apply, seek guidance if needed. The Times: https://lnkd.in/e7CYm5uf City AM: https://lnkd.in/ewfDgKcR

If you have savings sitting in your current account or in a low-paying savings account now might be the time to switch to a better product All the experts seem to think that savings rates are going down, especially after the Bank of England's latest decision to hold the Base Rate. Check out this article for more info. Special thanks to Laura Suter and Rachel Springall for their excellent savings advice https://lnkd.in/gdcZWJcx

Let your cash 'languish' in low-paying savings accounts, and you leave valuable interest on the table. That's the message in Paloma Kubiak's recent article. With inflation still stubbornly high, interest rates look set to stay stronger for longer. It's time for savers to take advantage. Read more: https://lnkd.in/e6BHyx3K #FlagstoneInThePress #SavingsPlatform #SavingsAccounts

Learn why savings account rates are falling.

Average fixed term rates have fallen for the first time since March 2021, new data from Moneyfacts shows. Anticipation of future base rate cuts appears to be gathering pace https://lnkd.in/eDBebd3j #savings #interestrates

Savings account interest rates are best in years, experts say. How to get a high yield.

Savings market heats up as providers boost rates | MoneyWeek: In a surprising twist, more and more banks are now hiking their savings rates. Is it a good time to move your money and grab a better rate?

Savings account interest rates are best in years, experts say. How to get a high yield.