US EditionMillions of UK Savers Told to Check Accounts as Fixed-Term Deals Soon to Expire
Over £116 billion in UK fixed-rate savings mature this year, with average rates falling from 4.5% to about 2.4%, risking hundreds of pounds lost annually per saver, experts warn.
- More than £116 billion in fixed-rate savings accounts will expire by the end of the year, affecting over 3.5 million accounts, according to Skipton Building Society.
- Savers who do not act may see their funds moved to lower-interest accounts, potentially decreasing their returns.
- Alex Sitaras from Skipton Building Society stated that many savers risk losing money by not checking their accounts.
- Experts recommend that savers explore better interest rates before their fixed-term deals end to improve their savings outcomes.
13 Articles
13 Articles
Bristol Post
Millions of UK savers told to check accounts as fixed-term deals soon to expire
More than £116 billion in fixed-rate savings accounts are set to mature by the end of this year, putting over 3.5 million savers at risk of seeing their interest earnings almost halved.
Coventry Telegraph
Millions of fixed-rate savings accounts set to expire - savers urged to act now
More than £116 billion in fixed-rate savings accounts will mature by the end of this year, and many people could be losing out on hundreds of pounds if they don't act soon
Savers urged to check accounts to avoid missing out as fixed deals set to expire - The Mirror
More than £116 billion in fixed-rate savings accounts is set to mature by the end of the year - and many people could be losing out on hundreds of pounds if they don't act soon
The Scotsman
nationalworld.com£116bn fixed-rate savings maturing this year - risking a drop from 4.5% to 2.4%
More than £116bn in fixed-rate savings will mature by the end of the year – leaving savers at risk of seeing their returns drop from nearly 4.5 per cent to 2.4 per cent if they slip onto variable rates.
Coverage Details
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
