Moneyfacts: Good news for savers
www.moneynews.co.uk > General finance > Moneyfacts: Good news for savers
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Money News |
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Moneyfacts: Good news for savers
Fri 18th Jul 2008
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According to personal finance site Moneyfacts, consumers able to put money away are seeing rates of as much as 1.3 per cent higher than in December 2006.
It suggests that people with existing savings accounts and those who are just beginning to set aside some cash - including those looking to save up a deposit for a mortgage - are in a strong position currently as banks and building societies compete to win new custom.
Reportedly, since May 1st of this year, Moneyfacts has noted 94 changes for increased savings rates.
The firm stated: "This is an unprecedented amount of increases following a base rate cut and is not something we have seen before."
Earlier this month, the Bank of England's monetary policy committee voted to keep the base interest rate at five per cent in a bid to curb inflation.
Related News : General finance |
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