Great news – fixed savings rates are edging up!

December 22, 2016 | 6years | Savings News

It hasn't exactly been a good year for savings rates, but we can at least end the year on a bit of a high note, with our latest figures revealing that the fixed sector is beginning to stabilise, with some average rates even edging up!

Light at the end of the tunnel

The figures, taken from our latest UK Savings Trends report, show that while the majority of savings rates continue to fall – all variable rates fell further this month, resulting in all reaching fresh lows and sitting well below the current rate of inflation
– there's some definite signs of life in the fixed sector of the market.

Yes, after nine months of falls, the fixed sector showed signs of a reversal of fortune: the average one-year fixed rate remained unchanged at 0.93%, while both the long-term ISA and non-ISA rate rose by 0.01% to stand at 0.99% and 1.27% respectively. Only the one-year ISA rate fell, down by 0.02% to 0.85%.

To continue reading this article follow the link:

You are now departing from the regulatory site of Financial Services Scotland Limited. Neither Financial Services Scotland Limited or Personal Touch Financial Services Limited is responsible for the accuracy of the information contained within the linked site.