Britons 'should seek out highest interest rate' for savings
Britons are being advised to seek out the savings account with the highest interest rate for their cash, in order to make the most of their money.Moneysupermarket has said that as there is less than one month left of the financial year, savers should be advised they could be nearly half a million pounds richer if they invest £3,000 per year in an individual savings account (Isa).Kevin Mountford, head of current accounts at the group, said: "With the Isa deadline looming and less than a month left before the end of the tax year, people should get their skates on to make the most of this no-brainer savings scheme."He added that research has shown that savers who put aside £250 per month during their working lives could amass a total savings pot of up to £500,000.The group advised that a cash Isa is "still the best place" for tax-protected savings, with many providers offering competitive rates on mini-cash Isas for those who can raise £3,000 as a lump sum.Meanwhile, Fidelity International has revealed that Isa holders are opting for cash despite equities outperforming these by 39 per cent since 1999.
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