Summary
MONTHLY income seekers can earn almost 5pc after basic-rate tax if they are willing to tie their money up for a year. Base rate remained at 5.5pc this month, but fixed-rate deals on offer from banks and building socieites continue to rise.
Savers are benefiting from these top rates, as money markets where banks and building societies go to buy bonds are expecting base rate to rise. It means fixed-rate savers have the benefit of those expected higher rates now.See the full content of this document
Extract
Yes, It Really Can Pay to Get Tied Up
And those looking to make the most of their easy access savings to provide monthly income can also look towards higher rates soon.
Moyeen Islam,...See the full content of this document
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