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Monday, May 20, 2024

Best savings accounts that offer above inflation rates

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Woman hand putting money coin into piggy for saving money

Savings accounts have become the go-to product for those trying to beat inflation. (agrobacter via Getty Images)

UK households are on the lookout for every little way to make their money go further amid the cost of living crisis, and savings accounts might help.

After years of low rates, high-yield savings accounts are having a moment as the Bank of England has kept interest rates at a 16-year high of 5.25%. While homeowners face higher mortgages, there is a silver lining in higher borrowing costs as consumers can now find UK savings accounts that offer more than inflation.

The UK rate of inflation came in at 3.2% in March, the lowest since…



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