All Britons, regardless of age, will find savings accounts suitable for them, one expert has claimed.
Rachel Thrussel, head of savings at Moneyfacts, has advised UK residents to ensure that they are opting for the best savings accounts for their particular demographic, whether under 18 or reaching retirement.
The expert stated that many savings providers are currently offering competitive rates on child trust funds, bidding to lure customers, as the take-up is yet to reach 100 per cent.
Additionally, more than 36 accounts are available for the over-50s, offered by 30 providers, while three new "best buy" savings options have recently become available for these customers.
"There are savings products to match each stage of your life, from infancy to retirement," she said.
"Make sure that you make the most of any deals available for your specific age group and any tax-free saving allowances."
"You are never to old or young to start saving," she concluded.
Ms Thrussel recently advised consumers to opt for savings accounts with no withdrawal penalties, to avoid incurring additional costs when accessing the funds.
Savings accounts suit old or young, expert claims
Savings accounts suit old or young, expert claims
Wed, 06 Dec 2006
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