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Feed up with low returns on your savings?

Enable Independent Financial Advisors in Bishop’s Stortford have been helping individuals over the past few years to find ways in which to increase the return on their savings, as interest rates have remained at a historical low. Which has been good for homebuyers but not so good for savers, and people relying on returns on their investments.

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However just recently we have seen the first increase in saving rates for more than a year, with the launch of the two best-buy accounts from one UK building society and one UK bank.

Kent Reliance building society is one of the companies increasing its rates for savers, on its one and two-year fix rate saver accounts, the interest rates on these accounts will increase from 2.05% to 2.35% respectively, pushing these accounts into the top of the best-buy tables. The minimum deposit for these accounts is £1,000.

John Eastgate of Kent Reliance said: “Savers are having a tough time finding value for their savings, and with economic uncertainty they may not want to lock their money away for a long period of time.”

Halifax has also upped rates for savers on its Fixed Saver and Fixed Online Saver accounts by 0.45%. Giving a return of 2.1% over two years and 2.25% return over three years, 2.3% for four years, and 2.35% for five years.

This news is very promising for savers, as it looks as though other large banks and building societies will be forced to follow suite in the near future.

If you would like some advice on how to get the best returns on your savings, why not give our team of Independent Financial Advisors a call today on 01279 755950.

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