'Positive' news for savers as interest rates across accounts rise – 'act quickly'

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She continued: “A positive change to see has been a rise to the average easy access rate, encouraging for savers comparing deals but regardless of rate, it seems the popularly of having flexible access to cash remains a vital aspect to savers. 

“Indeed, savers are still storing their cash in sight deposits, with £6billion in deposits made in May – or £56billion so far this year – according to the Bank of England. 

“Considering the pandemic effects on financial vulnerability, savers may even choose a deal with a brand they trust and is completely flexible in the months ahead.”

The savings market, however, has yet to recover from the widespread impacts of the pandemic.

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