Savings accounts in the UK 'viewed more favourably'
Savings accounts in the UK are looking like a brighter prospect according to a survey conducted by Nationwide.
Consumers are changing their attitude to savings accounts in the UK and viewing them more positively, according to research released recently by Nationwide.The building society's monthly savings index poll, which charts the public's perception of savings accounts in the UK, reveals a two per cent increase. The index showing the importance people attach to saving has also increased by one point.
Nationwide's statistics show that 56 per cent of people think saving is important, but at the same time, only 16 per cent believe that now is a good time to save.
Lee Raybould, head of savings at Nationwide, said: "Despite the modest improvement of two points in the savings index this month, the savings environment is still perceived as unfavourable by consumers."
Reductions in the base rate by the Bank of England over the course of the last seven months have played a part in falling savings account interest rates in many high street banks.
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