Santander savings accounts research suggests rates could rise

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Santander savings accounts research suggests rates could rise

A survey by Santander has shown that many Brits believe the base rate could rise soon and are taking measures to ensure they profit from such changes.

Director of savings and investments at the firm Reza Attar-Zadeh described it as "widespread expectation" that the base rate will increase in the next 12 months.

Research by Santander shows 33 per cent of the public believe the rate will go up by between 0.5 and one per cent, while a further 28 per cent think it will remain unchanged for the next year.

However, the report also showed that 37 per cent of Brits are keeping their savings in tracker accounts in case the base rate does rise.

"We're really pleased to see that so many people are already planning to take advantage of these predicted movements," said Mr Attar-Zadeh.

Santander launched its loyalty tracker bond at the beginning of September, which tracks the base rate until October 1st 2011 at +2.75 per cent.

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