SAVERS should ditch “meagre” rates at high street banks for better returns elsewhere.
Experts have warned that the most competitive saving rates are no longer coming from the big banks you’d expect.
Digital banks and building societies are now offering better deals on interest than high street names like HSBC and Barclays, according to Which?
Fresh data from the consumer champion shows which providers are offering the best and worst savings rates.
Which? used data from over 5,000 accounts from 120 providers over the 12 weeks and gave an interest rate score out of 100.
The interest rate score is based on analysis of Moneyfacts data collected weekly, between 24 June 2024 and 9 September 2024. An interest rate score of 100 represents the market leading rate.
The best ranked for interest rates came from little-known providers, with Cahoot taking the leading spot with 95.
The second best interest rates came from Bank of London and Middle East with …