Using introductory rates to tempt savers into opening accounts is to be reviewed by the financial regulator as part of a wider study into the £1 trillion cash savings market, it's been announced today.
Record low interest rates and multi-billion-pound emergency support measures from the Bank of England are costing savers nearly £18 billion a year, research showed today.
It is now just over a year since the Government's National Savings & Investments (NS&I) bank launched the latest batch of its popular inflation-beating, tax-free accounts, meaning many customers can now withdraw their cash virtually penalty-free.