Savers given boost as interest rates rise – but Britons urged ‘make money work hard’

But hunting around for the best kind of deal is also going to be a sensible option for those hoping to grow their cash.

Mr Mountford continued: “The market is becoming increasingly competitive for a number of reasons at a time when the big banks are still paying very low rates.

“Savers need to be more active and ensure that their cash is working as hard as it can.

“They must remember that up to £85,000, due to the Financial Services Compensation Scheme, savings are just as safe with a new challenger or overseas bank as it is with the big four.”


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