People should shop around to find the type of savings account that suits them best, according to one expert.
According to Helen Cook, head of savings at Sainsbury's Finance, people must consider what they want their money to do for them and use this to help them make an informed decision.
She explained that as savings accounts that offer the best rates do not often do so for long, people need to be honest with themselves as to whether they are going to keep on top of their money.
Ms Cook said: "Even though you think you're going to be very sensible and shift amongst rates, actually, most people don't. People need to know whether or not they're the sort that will."
Recently, research by Sainsbury's Finance and Defaqto revealed that 16 of the top 50 instant and easy access savings accounts have some form of restriction on how withdrawals can be made.
Expert issues savings account advice
Expert issues savings account advice
Wed, 09 Jul 2008
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