{"id":259030,"date":"2025-11-12T19:20:08","date_gmt":"2025-11-12T19:20:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/259030\/"},"modified":"2025-11-12T19:20:08","modified_gmt":"2025-11-12T19:20:08","slug":"savings-account-warning-as-brits-urged-to-make-1-move-before-december-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/259030\/","title":{"rendered":"Savings account warning as Brits urged to make 1 move before December | Personal Finance | Finance"},"content":{"rendered":"

Money savers across the UK are being urged to act before December. They are at risk of missing out on the best returns due to high inflation<\/a> and possible Bank of England<\/a> base rate cuts.<\/p>\n

According to experts from Moneyfactscompare.co.uk<\/a>, the UK\u2019s leading provider of retail financial product data, the interest rate<\/a> on the top one-year bond rose in November for the first time since July. The rate is currently at 4.46%, but this still remains lower than the 6.05% it was this time two years ago. Meanwhile, the average one-year fixed bond rate is 3.95% gross, which is higher than the five-year average of 3.93%.<\/p>\n

Putting savings account earnings into perspective, Moneyfacts said savers who had put away \u00a310,000 in the top two-year bond would now have \u00a31,000 in interest. However, those who had an “average” paying account will have \u00a3888.<\/p>\n

Savers are now at risk as interest rates<\/a> are either stagnating or trending downward. Experts are urging them to lock in top rates now before a potential base rate cut in December hits.<\/p>\n

Caitlyn Eastell, spokesperson at Moneyfactscompare.co.uk<\/a>, said: “If it is to be believed that inflation has peaked, this may not bode well for savers, as the chances of a base rate cut in December rise significantly. Understandably, savers may not be thrilled by the news of a base rate cut, but any hesitation to lock in their rates now could mean they miss out in real terms.”<\/p>\n

“Although it typically impacts variable rates in the first instance, it wouldn\u2019t be surprising if providers factored this into their pricing for fixed rates.” <\/p>\n

Ms Eastell added: “The latest Bank of England Money and Credit stats revealed that \u00a35.8 billion was put into easy access accounts during September. This points to many savers adopting a ‘wait and see’ approach, and are unwilling to lock away their cash until after the Autumn Statement, when more certainty is expected.<\/p>\n

“However, depending on what changes, it\u2019s not guaranteed that markets will react favourably, so it may be best to secure the market-leading rates now.”<\/p>\n

Chancellor Rachel Reeves<\/a> will unveil the autumn Budget<\/a> on November 26.<\/p>\n","protected":false},"excerpt":{"rendered":"Money savers across the UK are being urged to act before December. They are at risk of missing…\n","protected":false},"author":2,"featured_media":259031,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[107321,107322,84,1294,1431,814,1085,4547,107323,3668,29730,56,54,55],"class_list":["post-259030","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-base-rate","tag-base-rate-cuts","tag-business","tag-economy","tag-inflation","tag-interest-rates","tag-isa","tag-money-saving","tag-moneyfactscompare-co-uk","tag-savings","tag-savings-accounts","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/259030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=259030"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/259030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/259031"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=259030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=259030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=259030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}