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Saving Grace: High Interest Rates Benefit Savers if They Know Where to Look
- High interest rates, around 4%, benefit savers who shop around, unlike the industry average of 0.59% for savings accounts, as reported by Bankrate.
- In a September 2024 survey, 40% of respondents were unaware of their savings interest rates, according to Santander.
- Only 22% of savers reported earning 4% or more on their cash, as stated in a Bankrate survey from February 2024.
- Experts emphasize the importance of moving savings to accounts with better rates, which can significantly increase returns.
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Best savings accounts of the week: Banks offering 'market leading interest rates' of 7.5% in boost for savers
Britons are being encouraged to take advantage of competitive savings accounts before more interest rate cuts from the Bank of England.New analysis from Moneyfactscompare is revealing the best savings accounts for this week with NatWest, Nationwide Building Society and Royal Bank of ScotlandIn recent years, savers have benefited from the central bank's decision to raise the base rate with the Monetary Policy Committee (MPC) hiking rates to as hi…
·London, United Kingdom
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Coverage Details
Total News Sources34
Leaning Left4Leaning Right1Center24Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
14%
C 83%
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