Savers are enjoying the best interest rates they have seen for years thanks to soaring inflation. Now at 10.1 per cent, inflation has been in double digits since last September. Savings rates have risen dramatically over the past year. That is because the level of the base rate is one of the biggest factors that savings providers consider when pricing their deals. Multi-year fixed-rate bonds in particular may not rise in line with the base rate.

Source: Daily Mail April 26, 2023 08:26 UTC