The UK's instant access savings market has seen a substantial increase in activity, according to an expert.
A spokesman for a savings group claims that the sector has grown significantly over the last five years and contends that this growth will continue in the future.
In addition, Mark Brooks from National Savings & Investments (NS&I) claims that the overall savings market in the UK has seen an improvement over recent years.
"Savings have been gradually going up over the last three years and we would expect that to accelerate because of the higher returns available," says Mr Brooks.
The spokesman adds that recent base rate rises will make savings accounts "far more attractive" to consumers than they have been over the last four or five years.
Mr Brooks also notes that increases in interest rates will be benefit to Britons who do not have either mortgage repayments or credit card balances to pay off.
Earlier this week, NS&I announced that it had increased the rates on a number of its savings accounts, as well as on the Premium Bond prize fund.
UK savings market changing, analyst claims
UK savings market changing, analyst claims
Wed, 24 Jan 2007
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