People looking to put money into savings accounts are one of the few groups of "to have benefited from the credit crunch", one expert has claimed.
Rachel Thrussell, head of savings at Moneyfacts.co.uk, explained that banks are keen to attract money from savers and are offering very attractive rates because of this.
She said: "With rates on fixed-rate bonds continuing to increase, for the first time in many years we have seen all of the top six Moneyfacts.co.uk best-buy places being taken up by rates of over seven per cent."
Interest rates on such savings accounts could be set to rise even higher, Ms Thrussell added.
However, fixed-rate savings accounts might not be suitable for everyone and people who will need to access their money at short notice should consider looking elsewhere, she warned.
Yesterday, David Black, principle consultant of banking for Defaqto stated that such savings accounts should be on offer for some time to come.
Savings accounts very attractive, expert claims
Savings accounts very attractive, expert claims
Fri, 13 Jun 2008
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