You Know that savings rates can change vastly between bank accounts. While your best savings account may offer 7% interest and others may only offer interest rates as low as 2%.
But since it is you that saves in these bank accounts, you deserve to get the best savings rates possible. No one is going to ensure you get the best savings rates so you will have to take a hands on approach and find it yourself!
You should’nt just accept {second rate savings accounts}. It’s easy to settle into a period of apathy and stick with the same accounts for ages. But you need to be careful if you do this. Banks and building societies are quick to promote their new best rates . The problem is when new rates are released the rest of the older account rates seem do dip.
Many people can be completely unaware of this. This is understandable from the point of view of the provider because they need to push for the new sales.
What this means is that you shouldn’t assume your high savings rates will stay that way. Make sure that when they start to drop you go straight to another account or another bank that has more to offer. The faster you do this the less interest you will lose out on as a result.
The best accounts are easy enough to secure at any time. The best savings rates are easy to find just pop into your local building society or check price comparison sites to find the latest deals
Never forget that you are in charge of your savings. You don’t have to put up with low savings rates. Moving accounts could turn out to be the best – and most profitable – thing you do this year.
