Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

PPI: Savers 'forced' to accept low rates

UK savers are now forced to accept low rates as all banks are currently offering poor returns, it has been claimed.

The Daily Mail reports that rates have been cut on 31 fixed and variable savings accounts since the beginning of August, with some firms reducing the returns on their best paying accounts by 0.5 per cent.

Jason Riddle, from Save Our Savers, expressed his belief that British consumers are now forced into signing up for low-rate savings accounts.

He told the website: "The current trend is to reduce the rates being offered even further in the knowledge that, with all banks paying such low rates, savers have little option but to take what is on offer."

Standard Life Bank has reduced its best deal by 0.5 per cent, while Norwich & Peterborough will reduce its rates by 0.25 points on three accounts from October.

Last month, National Savings & Investments pulled its tax-free three-year and five-year savings certificates – the last available accounts which beat inflation. 

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-800040391-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