Is your savings account paying less than the rate of inflation?

The average easy access savings account in the UK is paying 0.34% in interest. Inflation is running at 3.0% (December 2018). If you are a saver with one of these accounts, then in simple terms the buying power of your money is going backwards. You need to take action to protect your money.

How do I get a better savings rate?

Well surprisingly the best rates of interest on offer currently are from current accounts. A number of high street banks pay competitive rates of interest.

If you are after a simple market leading instant access savings account then take a look at RCI Bank. With this online account you can earn 1.30% gross/AER Instant Access. There is no notice period, unlimited payments and withdrawals, and you can open an account from just £100. RCI Bank are protected up to a total of €100,000 by the FGDR (Fonds de Garantie Dépôts et de Résolution), the French deposit protection scheme.

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