After savings rates fell to a pitiful low last year, many savers have since leapt at the chance to secure more healthy rates for their savings by committing them to fixed rate deals. In fact, a new report from uSwitch.com suggests that 9 million consumers have locked away £131 billion in fixed rate savings accounts in the last 12 months
According to the report, one in four consumers have opened 2 accounts, investing an average of £14,237, and 87% of these consumers chose a fixed rate account stated that they did so because it was the only decent rate around at the time.
But now, as the economic downturn continues to put a strain on finances, 6% of savers already regret locking their money away. Almost one in ten people – 800,000 consumers – have already made an average withdrawal of £3,738, and 36% …
Read the original article at Totallymoney
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Tags: account, consumer, deal, debt, finance, Fixed Rate, money, savings, Savings Accounts
