In view of recent interest rate reductions on high-yield accounts, savers are advised to take prompt action to optimise their returns.
Despite this trend, there is a noteworthy exception. Metro Bank raised the interest rate on its Instant Access Savings account to 5.22% last week, inclusive of a 3.46% bonus for the initial 12 months. This account, available for online or in-branch opening, requires a minimum deposit of £500 within 28 days to qualify for the bonus.
With decreasing inflation, savers now have the opportunity to secure an interest rate that surpasses the rate of rising prices. Nevertheless, the search for fixed-rate savings accounts offering over 6% has become futile, and experts caution that the most favourable deals may quickly reach full subscription. Act swiftly to capitalise on the current market dynamics and secure the best returns on your savings.
As always, get in touch with us if you more information and advice. We are based in West London but happy to work with clients everywhere!