"The most recent Consumer Prices Index (CPI) inflation reading was 3 per cent in February - but this data is from before the Iran war, and experts are expecting inflation to increase."
"With a regular saver, you pay into the account each month and are rewarded with a better interest rate, helping build a habit of saving without dipping into that cash."
"Zopa currently offers the top-paying regular saver at 7.1 per cent AER. However, this rate is variable, meaning that it could decrease during the term."
The Bank of England's Monetary Policy Committee has kept the base rate at 3.75%. Rising inflation due to the war in Iran makes it crucial to secure better savings returns. The latest CPI inflation rate is 3%, but this may rise. Savings accounts yielding less than this result in a loss of value. Regular savers offer higher interest rates and encourage saving habits. Zopa Bank currently provides a top regular saver at 7.1% AER, allowing monthly contributions with accessible cash options.
Read at www.independent.co.uk
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