Inflation and interest rates

What you can do online but it is fiddly is to open multiple accounts to gain a fair bit of interest. The problem being is that with some accounts only £150 a month is the max to be saved and the original deposit may be as low as £500. Tesco bank for example looks promising.

I am against fixed rates because I am certain rates will rise and banks will eventually raise their rates if not by much.

I agree, Doodledog, and remember how tough life was when our mortgage rate went to 15%. For years we told our AC to keep such rates in mind and we’re met with unbelieving laughter. We’ll see.

All my life I have been on the wrong side of interest rates. When we had a mortgage the rates were high, and when we could finally afford to save they were virtually nil.

Part of me would like to see them rise, but then I think about young people starting out and don't wish high rates on them on top of everything else.

It would be nice to think that interest on savings accounts would rise wouldn’t it?

But I won’t hold my breath.

Only advice I have is to keep looking at the savings accounts rates online and see if any rise, then maybe move any savings you have.