The credit crunch has led to an "upsurge in interest" in government backed savings accounts, it has been claimed.
A spokesperson for National Savings and Investments explained that inflation-beating savings account have become more popular as people look for somewhere safe to put their money.
She said: "People have a greater awareness of what's going on in the banking and financial industry at the moment. So they're really looking [at products] not just based on interest rates – they're looking at the complete package of what banks, building societies, and National Savings and Investment offer."
The fact that National Savings and Investments accounts are backed by government guarantees makes them even more attractive to consumers.
Last week, James Falla, director of debt counselling agency Thomas Charles, urged people to take the time to look at their finances and work out how much money they can afford to put in a savings account each month.
Government-backed savings accounts more popular
Government-backed savings accounts more popular
Mon, 14 Apr 2008
Recommended links
UK savings accounts and information portalSavings enquiry form
Today's best savings accounts options
Savings accounts information guides
Types of savings accounts
Find government backed savings
Cash Isas more popular, survey shows
Isas are "popular savings vehicle"
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Warning over easy access savings accounts - Thu, 03 Jul 2008 |
| Building Society savings accounts still popular, figures show - Wed, 02 Jul 2008 |
| Alliance and Leicester extends savings account offer - Tue, 01 Jul 2008 |
| More News |
