Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI: Low interest rates will 'not discourage' savers

The current low levels of interest paid on savings accounts will not discourage UK consumers from investing in their future, according to an expert.

Following the withdraw of the National Savings & Investment savings certificates earlier this year, very few accounts now offer savers inflation-beating rates.

However, Jason Fiddle, co-founder of Save Our Savers, claimed that this will not put consumers off saving as they always have their funds earmarked for a purchase.

"Overall the current interest rates will probably not discourage saving, since people save for a reason, such as to make a major purchase or to provide for their old age; the current interest rate has little bearing on this," he said.

Mr Riddle added that those who are dependent on their savings income may be forced to spend their capital, while they may also believe it is not worth maintaining their savings as they are being devalued by inflation.

Recent research by consumer champion Which? has revealed that savers are missing out on £12 billion a year because banks are not being transparent about the poor returns they offer on some savings accounts.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800207533-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 
Town
County
Post Code 
Email 
Circumstances
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 www.gov.uk/moj/cmr 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