Jul 13 2006
Savers who can afford to tie up excess funds for six months or more are advised to take advantage of rising interest rates in the market at the moment.
Financial advisors Moneyfacts believe fixed term accounts offer the best option at the moment with figures showing seven providers have edged their rates up in the last few weeks.
The best increase was from Derbyshire Building Society which increased rates on a one year bond by 0.2 per cent.
However, Skipton, Bradford & Bingley, West Bromwich, Northern Rock and Birmingham Midshires have all also increased their rates by between 0.04 per cent and 0.15 per cent.
"No matter how large your savings pot, or where you choose to place it, it is worth regularly checking you are getting the best deal to suit your circumstances," said Rachel Thrussell from Moneyfacts.
"You should always make the most of any tax-free savings allowances and don't be afraid of switching provider. It is more straightforward than you may think, with providers having set guidelines in place to ensure the process is timely and simple."
JP Morgan Asset Management offers good rates on investment trust child saving plans, for more information click on our free brochures page.
