Property News · October 24, 2016

Savers hit yet again as even five-year fixes fail to pass muster


People prepared to lock their money away were previously rewarded with rates of almost 5%, but today’s best-buy is less than half of thatSavers with maturing five-year accounts are in for a nasty shock, as rates have plummeted even for those willing to lock away their money for longer periods, figures show.Financial firm Moneyfacts said the average rate available on a five-year fixed-rate bond had fallen to just 1.65%, down from 2.65% a year ago and less than half of the 4.04% being paid in October 2011 when such savers would’ve opened their now-maturing accounts. Continue reading…

Source : theguardian.com
Read more…Savers hit yet again as even five-year fixes fail to pass muster

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