Those debating whether to go for a savings account with a short or a long-term fixed rate of interest have seen some help from Moneynet.co.uk.
The financial website believes that the volatility of the current market means that fixing your savings account interest for the long-term is a risky investment, despite the low Bank of England base rate .
Andrew Hagger, PR and communications manager at Moneynet.co.uk, believes that fixed-rates will still rise in the near future and that the best option is for people to put their savings in mixed accounts.
He said: "An approach where you don't put all your savings eggs in one basket may be a strategy worth considering; perhaps spreading your cash between fixed terms of one and three years to hedge your bets."
Santander banks Abbey and Alliance and Leicester recently launched a new savings account option which provides two products at interest rates of six per cent.
Short or long-term fixed rate savings
Financial Services > Saving Accounts > News
Short or long-term fixed rate savings
Thu, 13 Aug 2009
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