In a recent report by Moneyfacts, average fixed savings rates have plummeted to the lowest levels in over a year.
Notice-based accounts offer higher rates than easy access ones
, prompting savers to reconsider their investment strategies.
The Bank of England is anticipated to lower base rates
, resulting in additional declines in savings rates. Despite the rate cuts, there is still a wide range of products available, underscoring the importance for savers to regularly review and transfer their savings for maximum returns.