How low will they go? More pain for savers as top rates on easy-access accounts shrivel to just 1%
Savings providers are continuing to hack away at easy-access rates with RCI Bank slashing its best buy deal for the third time this year.
At the start of 2016, its freedom saver offered 1.65 per cent. This fell to 1.45 per cent at the start of the summer followed by another cut of 0.25 percentage points in August, in the aftermath of the base rate cut.
Now, it has shaved the rate further to pay just one per cent. Remarkably, thanks to other rates falling, it is still one of the top deals in the independent This is Money savings tables.
It is just one of four accounts that pay one per cent,... read more
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