Rates see worst cuts in a decade: easily accessible deals down 0.35% and fixed Isas down 0.56% since the start of the year
Tariffs for easy access have fallen by 0.35 percent since the beginning of the year
Researchers have now suffered the biggest rate cuts since the financial crash.
Easily accessible rates have fallen 0.35 percent since the beginning of the year, while longer-term fixed ISAs have fallen 0.56 percent, according to Moneyfacts.
The data analysts say the rate of cut on variable and fixed rate deals is the worst in over a decade, creating a gap between the best and worst deals on the market.
Experts are now pushing for savers who get poor returns to switch.
Rachel Springall, a financial expert at Moneyfacts, says, “It is imperative that savers act quickly to get the highest rates, regardless of the type of savings account they choose, as the downward trend doesn’t seem to end.”