Savings increase during lockdown

37% of the UK population have managed to put away more money during lockdown, as daily expenditure on commuting and leisure activities dramatically decreased.

In addition, it looks like Britain’s growing army of savers are here to stay, with 36% stating they aim to keep cutting costs post-lockdown1.

Could savings rates harm your goals?

Unfortunately, this wave of savings enthusiasm has come at a time when interest rates are at rock bottom. The average instant access rate has plummeted, from rates savers enjoyed at the beginning of the year.

Make your savings work for you

There are still better rates out there – you might just have to shop around and work a bit harder to find them.

Take a long-term perspective

Interest rates fluctuate over time, so don’t despair. We can help you manage your cash balances to achieve your personal savings goals.

1Nationwide, 2020