Savings rates have not been favourable within the last year and a half, causing issues for those hopeful of growing their cash. The main reason for this is the Bank of England deciding to reduce its base rate to a record low of 0.1 percent. This caused a wealth of savings providers to follow suit, with many interest rates now just above zero percent.
With a 2.02 percent interest rate up to £1,000 through its M Plus Account, this could prove an attractive draw for Britons.
Indeed, the account is also linked to the M Plus saver, offering 0.35 percent on a person’s savings balance.
But another option which Ms Brain was quick to reference as favourable is through Lloyds Bank.
The provider’s Club Lloyds account will be suitable for those who can put away £1,500 per month.
This account provides individuals with a 1.5 percent interest rate for £1,000.
However, Ms Brain did acknowledge some savers would be disappointed with the offerings currently available.
She added: “While it’s not looking too great for interest rates at the moment, for smaller amounts you could get something…
