"Here's a trick, the terms say you can get this account whether you've got a current account or a saving's account. Well it's flex savings account allows you to open it with £1.
"So you can put £1 in HSBC's flex saving account, which has a very poor rate and that will give you access to this account what pays 3% and you can put up to £10,000 in.” He added:"Let's stop the savings rip-off. UK base rates have been rising since December and are likely to rise again this Thursday. But while variable mortgage rates have shot up in the blink of an eye, we've yet to see most savings rates rise at all.
"All savings in reality are losings which means even in the top paying fixed accounts your savings are not growing as quickly as prices are rising. So your purchasing power of money kept in savings is diminishing even in the maximum interest."Your Money Matters Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living. This year has seen a whole host of household price increases — from the energy price cap rise to surging inflation andprices — costing your family hundreds or even thousands of pounds extra per year.
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