Gocompare.com urges customers to shop around for top current account interest rates

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Gocompare.com urges customers to shop around for top current account interest rates

Brits are being encouraged to look around the market to ensure they get the best deal on their current account interest rate, as new figures show a quarter have never switched and saved.

According to numbers published by website Gocompare.com, more than 12 million people have not changed providers for some of the most commonly held financial products, such as home insurance and bank accounts.

Out of those surveyed by the site, more than 13 per cent of drivers admitted to never changing their car insurance provider. 13.8 per cent also said they have not switched their home insurance firm and another 12 per cent said they have never searched the market for a better deal on their savings account.

As well as this, almost 30 per cent of Brits have not changed bank accounts despite 81 per cent of survey respondents saying that this year they are hoping to save some money.

Previous research from Gocompare.com showed that Brits are avoiding the shops due to the rise in VAT, which has now come into effect. Around seven in ten said they may reconsider big purchases this year.

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