Banks with the best savings returns after interest rate hike to 1.75% 💷 Several banks including Metro, Tandem and Shawbrook have announced they will be upping their rates for customers
Rates on the bank’s instant access saver account have increased 0.3 per cent with it now paying 1.64 per cent monthly.Rates on all variable rate accounts have increased by 0.05 per cent. Rates now stand at 0.2 per cent monthly on the instant access saving account, 0.2 per cent yearly on instant access savings account, and 0.65 per cent monthly on the young savers account. The rates will come into effect from August 8.The bank has increased the rate on its easy access account by 0.
“The big banks have barely moved their savings rates following the five previous base rate hikes and I’m expecting more of the same apathy following the 0.50 per cent hike yesterday. “It’s high time customers voted with their feet and found a better home for their savings – otherwise the big banks will continue to profit at their expense.”
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