Here's how to get the best deals on your savings account – before the end of the month
Anyone with more than £1,000 in the bank is being urged to move their money to the best deal available – or risk missing out on extra cash. And they're being told to do this by tomorrow – Thursday 1 August – by savings experts.
The base rate, or the interest rate, is set by the Bank of England and influences the rates those banks charge people to borrow money or pay on their savings. 'Predictions are 50/50 that the monetary policy committee will vote in favour of dropping the base rate from 5.25% to 5%. Previously, it was expected the base rate would be unchanged in August, and instead things would shift at the next meeting in September.
Should I switch bank accounts? Lucinda advises switching bank accounts if you have more than £1,000 in your account.
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