Saving at fixed rate

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A large amount of places offering saving deals over the last few weeks have had a good deals to offer consumers, mainly due to the fact that the Bank of England slashed the based rate meaning banks could pass on their savings.

It is definitely worth shopping around for the deals on comparison sites and the high street.

Saving at fixed rate

Last week was mixed for those looking for a new savings deal. A large number of providers cut the rates on their fixed-rate deals following the half percentage point Bank Rate fall at the beginning of this month.

However, many providers reduced the rates on their fixed-rate bonds by less than the full cut, meaning that the average rate has fallen by just 0.27 percentage points to 2.81pc since this time last month. Despite a flurry of cuts and Bank Rate being at just 1pc, savers can still find fixed-rate investments paying just under 4pc.