Achieving the best savings interest rate in a bad economy can be a challenge. With the Bank of England setting base rates at an historic low of just 0.5%, financial institutions aren't rushing to offer savers a huge return. Don't settle for the financial products or they'll have no incentive to improve. Those who are able to avoid an early withdrawal penalty, should see if they can improve their returns elsewhere.
Best Savings Interest Rate
Whilst a high bank account savings rate is something of a misnomer, it is certainly possible to get improved returns. Don't leave money earning 0.1% in a current account or personal savings won't even keep pace with the rate of inflation. Fully utilise personal tax allowance, take advantage of tax-free savings and compare savings rates with an online comparison service.
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