More savers appear willing to accept lower rates of interest on savings products as the UK's base rate remains at its historic low of 0.5%, research suggests.
Just 9% of respondents to a poll of more than 1,200 adults by National Savings & Investments (NS&I) said they were put off by the returns offered on individual savings accounts (ISAs). This is in stark contrast to the 30% of savers who said they were put off by low interest rates in 2010. The Bank of England's Monetary Policy Committee has held interest rates at their record low 0.5% since March 2009. Meanwhile, the NS&I research suggested fewer people will take advantage of their full ISA allowance in 2012/13. According to its poll, 24% intend to use their full £11,280 allowance in t...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes