Wealthy individuals 'missing out' on competitive interest rates
www.moneynews.co.uk > Banking > Wealthy individuals 'missing out' on competitive interest rates
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Money News |
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Wealthy individuals 'missing out' on competitive interest rates
Tue 19th Jun 2007
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Research carried out by Cahoot indicates that the difference between the best and worst savings rates is equal to some £4.8 billion in interest annually.
For balances over £500,000, Cahoot accounts provide some of the best interest rates on the market.
Other favourable accounts include packages from Sainsbury's Bank and Birmingham Midshires.
Reza Attar-Zadeh, head of savings at Cahoot, said: "There has been a significant increase in liquid cash assets as UK wealth increases and people realise the value of appreciating properties."
He added: "The wealthy need to watch for the best savings rates as much as anyone else – the difference between the best and worst savings rate for someone with £500,000 equates to £25,200 interest a year."
Related News : Banking |
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Related News : Cahoot |
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