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More misery for embattled savers with rates at an all-time low


More misery for embattled savers with fewer accounts on offer and rates at an all-time low

Savers ave the choice of just 1,340 accounts while average rates have fallen yet again over the past year

Savers face a sharp drop in the number of accounts on offer and rates are at an all-time low.

There is a choice of just 1,340 accounts today, compared with 1,588 this time last year.

Meanwhile, average rates have fallen yet again over the past 12 months. The average easy-access account now paying 0.16 per cent, against 0.51 per cent a year ago, says Moneyfacts. 

Cash Isas have seen an even larger fall — down from 0.79 per cent to 0.22 per cent.

It is possible to get higher rates. Last week, Kent Reliance offered an easy-access cash Isa at a top rate of 0.45 per cent. 

It followed closely on the heels of Marcus by Goldman Sachs, which launched its first cash Isa at 0.4 per cent.

Savings accounts



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