You only have until lunchtime today to lock in your savings before the interest rate is cut at lunchtime today.
The best deals from UK institutions are as follows The AA’s Internet 1 Year Fixed Rate pays 3.85% AER from a minimum of £500 up to a maximum of £5,000,000 (click on financial services tab). Birmingham Midshires pays 3.5% from £1 up to a maximum of £10 million, and National Counties BS also pays 3.5% AER, though you need a minimum balance of £5,000, and has a maximum of £100,000. There are other slightly higher interest rates available but unless you want to lock into an institution owned by the Bank of Nigeria, then best to avoid these. Don’t forget your savings are covered against a bank or building society collapse by £50,000 per institution, so anybody with a bigger amount in savings should be splitting it between various banks/building societies.
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