The number of people raiding their savings accounts fell more than ten per cent through the first few months of 2006, says research.

Only 37 per cent of the UK raided their savings accounts through the first three months of 2006, down from 45 per cent in the second half of 2005.

Those who did eat into their savings withdrew an average £267, or almost £5 billion overall.

Young and old were almost equally likely to dip into their savings, although the over 50s were likely to withdraw more, an average £353 compared to £166 among the under 30s.

Most people – 27 per cent - did so to cover overspending on their current accounts, followed by 20 per cent who needed a little extra to pay for a holiday.

An undisciplined 19 per cent raided their savings to afford a luxury impulse purchase.

Northerners were most likely to raid their savings, at 42 per cent compared to 32 per cent of Londoners.

People with no desire to crack their nest egg can find the best savings account rate online.

© Adfero Ltd