A third of people have no idea whether or not they have invested in the best savings account rate, says a survey by Norwich and Peterborough building society.
Of the 81 per cent of respondents who said they had one or more savings accounts, 33 per cent said they thought they had the best saving account rate of at least four per cent.
Just over a quarter of savers said that their account pays between 2.01 per cent and four per cent and seven per cent are definitely not receiving the best saving account rate, and only receive two per cent.
Most people (59 per cent) don’t anticipate much change to the best savings account rates over the next twelve months, although an optimistic 17 per cent said that they expected the best savings account rates to increase.
Eighty five per cent of people with a best savings account said that they save regularly.
Norwich and Peterborough found that although a significant majority thought that they had the best savings account offer they were unaware of its Gold Savings account, offering a best current account rate of eight per cent gross AER.
Savers must open a Gold current account with the building society to qualify for the best savings account rate.
“Right now people are thinking about what to buy for family and friends at Christmas but we are urging everyone to think about themselves too!” said Mike Hounsell of Norwich and Peterborough.
“The Gold Savings Account will appeal to everyone who wants a high return on their savings and, at eight per cent fixed for a year, it’s one of the best savings account rates currently available.”
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