This week saw a number of building societies increase rates on fixed products. Principality Building Society increased the rate on its regular saver bond, resulting in it offering a competitive rate of 1.05% AER.
With inflation rising to a 10-year high of 5.1% during November, savers will not find any savings accounts that can match or beat the current rate of inflation
Cynergy Bank caught many savers’ attention this week when it increased the rate on its easy access savings account to now top the chart with a rate of 0.70% AER
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Several banks and building societies increased the rates on their savings accounts this week including Tandem Bank, whose rate rise resulted in it topping the easy access savings chart paying 0.65%