Customers who have made a new year's resolution to start saving money on a regular basis have been cheered by news of a revision to Yorkshire Building Society's savings rates.
Effective from January 28th 2007, all of its variable-rate savings accounts will see interest rise by a quarter of a percentage point.
This effectively means that interest on savings in these savings accounts will accumulate more rapidly than in 2006.
The change has been made in light of the Bank of England's decision on January 11th to raise the base rate by a quarter of a percentage point.
National interest rates now stand at 5.25 per cent, which represents their highest level since 2001.
Earlier this month, Kate Marsden, marketing director of financing website Find.co.uk, recommended that people looking to start saving money compared the market for the best savings accounts available.
"If you fail to shop around, your money could be missing out on up to 5.35 per cent interest," she claimed.
"So don't be a mug and allow your money to languish in one of the accounts paying only 0.1 per cent interest."
Savings customers alerted to increase in savings rates
Savings customers alerted to increase in savings rates
Tue, 23 Jan 2007
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