Consumers 'should compare saving accounts on a regular basis'

Taking the time to compare interest rates on saving accounts can help consumers ensure they are getting a good return on their money.

Britons wishing to compare savings accounts should seek out products that are convenient for them to access.

Such is the advice of Neil Faulkner, where in a lovemoney.com article he points out that people should ensure their saving account">saving account allows them to manage their money in whatever way is best for them, whether it is online, over the telephone or in a bank branch.

He also points out that those seeking out an easy-access account should ensure they are getting the highest rate of return possible, with interest rates off at least three per cent currently on offer.

Taking the time to compare accounts every few months was also advised so that savers can be certain they will always be getting the best rate on their savings.

Such advice comes as a recent Abbey study revealed that an average of £198 is currently being tucked away into UK accounts each month, 21 per cent more than that which was being saved at the start of the year.

By Nate Sawyer