Savers need to check that they are making the most of current high-interest rates on offer
Research from Shawbrook has found that nearly a quarter don’t know what interest rate they are currently getting on their savings account. Adam Thrower, Head of Savings at Shawbrook, said: “Despite higher interest rates, far too many UK savers are having the life sucked out of their savings by inflation.
", ensuring their hard-earned money works harder. It may be spooky season, but that’s no excuse to ghost your savings. Reviewing their current rate, and considering the other rates on offer, as well as the tax implications are all vital. So too is how accessible the cash is and whether its available at short notice should it be needed. Switching now will help avoid being haunted by poor financial decision making.
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