Lucinda O’Brien, Money.co.uk’s savings expert, broke down why people should be proactive in taking these deals while interest rates still remain high.
She explained: “Similar to last week, easy access interest rates remain competitive, whereas fixed-rate interest is slowly dropping.
“If you are considering locking your money away for a set period of time, Union Bank of India One-Year Fixed Rate has an interest rate of 6.11 percent – and we’re not sure how long these top rates will hang around.
“If you would like more flexible savings, then Paragon is offering an easy access account at 5.25 percent, which matches the base rate. Chorley Building Society currently has the top rate for easy access at 5.30 percent, but both these accounts do come with withdrawal restrictions.”
