In recent months, savers have been sitting on rates as low as 0.1%, even though the Bank's base rate has been set at 4.5%, according to Which?.
It comes as savers have been urged to switch accounts due to earning "meagre" returns despite an increase in the Bank of England base rate. Investec via Raisin offers the rate with interest paid at maturity, and is giving new customers to the online saving platform £25 when putting away £10,000 or more.Ī minimum £1,000 deposit is required to open the account.
"It's the highest rate we've seen in years," MoneySavingExpert said. Savers might be enticed by a new two-year fixed deal that has just come on the market, with the provider offering a rate of 5.15%.
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