Hundreds of thousands of savers who opened best-buy accounts over the past two years are now earning well below the current top-paying rates, a MoneySavingExpert.com investigation shows.
Interest rates have been kept on hold today as policymakers maintain their "wait-and-see" approach ahead of government plans to tackle the UK's deficit.
Inflation is at a 19-year high meaning virtually every savings account would fail to keep pace with the cost of living were prices to continue rising at this rate.