Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

PPI reclaim: Savers missing out on £9.4bn

Savers are missing out on £9.4 billion worth of interest every year by failing to shop around for the best deal, according to new research.

Comparison website has revealed that 57 per cent of savers have never switched their accounts despite holding them for an average of seven years.

Consumers with £10,000 worth of savings are potentially missing out on £245 a year as introductory rate deals run out and are replaced by lower rates. If every UK saver switched to the best deal, investors would earn a combined £9.4 billion worth of annual interest.

Kevin Mountford, head of banking at the website, said: "Whatever product you opt for, our research highlights precisely why it is so important that savers be proactive in checking their rates, as they are likely to be missing out on a large amount of interest.

"Remaining apathetic at this time plays into the hand of the banks and will cost consumers dearly in the long run."

Mr Mountford advised consumers to check their current rate with their provider and switch to the best possible deal to avoid further loss of income.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800006950-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide