Banks that give you the most for your money after changes to Bank of England – Irvine Times

As a result, millions of savings could miss the best percentages, as one in three (37%) people did not switch for five years, and 27% had never changed, according to New Research.

For the average amount of savings in the amount of £ 17,365, someone who is delayed with the most competitive percentage (4.70%) can win £ 816 each year.

Meanwhile, if the same savings were at the average rate (1.44%) offered by the large 5 banks, they would win £ 250 (a difference of £ 566).

This drops to 189 British pounds on the average value of the lowest value of saving easy access (1.09%).

The table below, created by completely money, emphasizes 20 of the most savings accounts for people who want to deposit and withdraw money without restriction.

(Image: Totalmoney)

He looks at the difference in profits in different amounts for deposits, as well as for a number of available banks and interest.

He stresses that for the average savings of £ 17,365 5 banks (1.44%), or 189 British pounds, if it is 1.09%.

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The bigger part (54%) of people’s savings are conducted in savings accounts, construction societies or national savings and investment (NS & IS), 28% of ISA and 26% in premium bonds.

However, 37% of savings have not switched for five years, and 27% have never switched, while only 52% of the savings have switched or plan to switch accounts.

“If you have any savings, then it’s worth setting a regular reminder to double the interest rate conditions,” says Alasster Douglas, CEO of Totalmoney.

“This is because some banks pay well below the degree of inflation, which means that your consumption force decreases with the increase in life costs.

“Putting your money in the best savings account can also earn you money, which you can put for your bills and shopping, or even a special handwriting. The average savler can bank interest over 800 British pounds compared to only 250 British pounds with an average account of one of the big four banks.

“When shopping around, keep an open mind and think about smaller or more new banks and construction companies. They will often offer some of the best prices in an attempt to try to win customers from the suppliers on the big high streets. And according to the financial services compensation scheme, up to 85,000 British pounds per person and a bank, the construction of the society or the credit union is protected.

“Loyalty does not pay, but moving your savings can. Just make sure you have read the terms, as some accounts that claim to give you easy access to your money can still come with a limit on how many times you can withdraw your money.

“If you think you won’t need to have quick access or immerse yourself in your savings, then consider ISA, notice or fixed account. The important thing is to find the best place to put your money for your own personal circumstances .