Savings Self-Care: Why You Need to Check Your Savings Account Now

As the cost of living continues to rise, it’s more important than ever to make the most of your hard-earned cash. But are you getting the best return on your savings? According to consumer champion Martin Lewis, if your savings account is earning less than 4% interest, you’re earning “diddly squat”.

Savings accounts with low interest rates are a thing of the past

In his latest newsletter, Martin Lewis urges millions of people with money in a savings or cash ISA account to check their interest rates and consider switching to a higher-paying option. With inflation rates falling to 2.0% in May, it’s the perfect time to take control of your savings and make sure you’re not missing out.

The Benefits of High-Interest Savings Accounts

With interest rates ranging from 5% to 7%, some savings accounts are offering unbeatable returns. And it’s not just about the interest rate - some accounts, like the Help to Save account, offer a 50% bonus after two years for those on Universal Credit and Tax Credits.

High-interest savings accounts can make a big difference to your savings

Martin Lewis writes, “There’s a pack of recent 5% to 7% paying, outlier savings; easy access, cash ISAs, LISAs & more, all smashing the opposition. So many can easily, hugely increase their interest!”

Don’t Settle for Low Interest Rates

According to Moneyfactscompare.co.uk, there are currently 1,622 savings accounts that beat inflation. So why settle for a low-interest rate when you could be earning more?

Don’t let inflation eat away at your savings

Take control of your savings today and make the switch to a high-interest account. Your future self will thank you.

“There’s a pack of recent 5% to 7% paying, outlier savings; easy access, cash ISAs, LISAs & more, all smashing the opposition. So many can easily, hugely increase their interest!” - Martin Lewis