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switch accounts to beat inflation
Published: 24/02/2010 |
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Daily Express (Main) Beating inflation on savings is crucial for savers who want to get the best return on their hard-earned cash, particularly for those who rely on interest for income. Putting a regular sum of cash away on a monthly basis can earn up to 5 per cent. The Regular Saver account from Nottingham Building Society, for example, pays 5 per cent on a maximum of £100 a month. Stroud & Swindon Building Society pays 4.5 per cent but allows deposits of no more than £250 each month. Andrew Hagger at Moneynet.co.uk said: “The downside of these accounts is that the amount you can save is limited and access to your cash is not permitted without penalty or closure of the account. However, if you’re aware of this from the off, then the rewards more than outweigh the restrictions.”
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