Barclays, Santander, Nationwide and NatWest customers have been urged to take £1 out of their bank account as we head towards Christmas. The best savings account where an overlooked bank pays 8 per cent "guaranteed interest" has been revealed – and you can open it with £1. Analysis by Shawbrook Bank indicates that 1.
4million savers with fixed deals ending before January could face financial setbacks if they do not switch accounts promptly. Adam Thrower, the Bank's head of savings, warns that failing to act quickly "could be costly" for these savers, according to The Sun. Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us.
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com/7xqyoLrkBD — Nationwide (@AskNationwide) August 2, 2024 However, Rachel Springhall, finance expert at MoneyFactsCompare.co.uk, said: "The cut to interest rates is not all doom and gloom as savers can easily switch their flexible pots elsewhere.
Challenger banks are offering attractive returns and it would be unwise to overlook them when they have the same protections in place as a high street bank. "Savers need to proactively keep on top of the best rates and review their pots regularly to see if they are getting a raw deal." Principality Building Society's Six Month Regular Saver offers an impressive 8% interest on savings, with a minimum deposit requirement of just £1 per month.
The rate is fixed for 6 mon.
