Published: 28/12/2008

Sunday Herald (Glasgow) (Main) – 28th December 2008

Many of us will look back on 2008 as the year that our money went into meltdown.

Falling interest rates are bad news for savers. Almost a third of variable rate savings accounts now pay 1% or less. And 15% pay 0.3% or less, according to Moneynet.co.uk.

Andrew Hagger of Moneynet.co.uk says: “With many accounts now offering an almost worthless rate of return, there’s a real danger that people in the UK will give up on the savings habit.”