Best fixed-rate savings accounts to open now as top deals could vanish

Products featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.

The Bank of England has pressed the pause button on the interest rate hike cycle.

But this week’s surprise inflation fall, to 6.7 per cent from 6.8 per cent, was enough to convince the majority of the Bank’s Monetary Policy Committee to hold the base rate at 5.25 per cent.

Savers will now be watching rates more closely than ever to see if today’s rate pause will drive down the best savings rates on the market.

Rates have hit highs not seen for more than a decade recently. At the start of this month, NS&I announced a massive rate hike on its one year fixed bond to 6.2 per cent.

But experts have warned that savers shouldn’t expect 6 per cent-plus fixed rate savings accounts like this one to stick around for long.

On Monday this week, James Blower of website Savings Guru said: ‘We think there is another week or so left on this account.’

Savers looking to fix while these rates are on a high may wish to do so now. 

For more news: Elrisala ، For social communication, follow us on Facebook .

Source of data and images: dailymail

Related Articles

Back to top button