High Street Savers Lose Out
Most high street savings accounts offer a negative return
30th April 2004
A survey by internet bank Egg has revealed that most high street savings accounts actually lose money for their savers.
Out of 167 high street 'easy access' accounts, only 20 offered an interest rate of 3.13% or more - the rate that Egg says is required to beat the effects of inflation and tax for standard rate taxpayers.
Online savings accounts fared better, with 15 out of 19 paying a high enough rate to provide a positive return.
Read More: Egg Press Release
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