Is your bank slowing down your savings growth?

Banks make money by paying less interest, so how does this affect your savings? Learn why your brand loyalty could hurt your earning potential.

Interest rates Savings accounts
Date published: 08 March 2025

This article is not advice. If you would like to receive advice on your savings and investments, consider speaking to a Financial Adviser.

Transcript

If you’ve opened a savings account with your main bank and left your money there, it’s no surprise. It feels easy, safe, and familiar.

But here’s the problem – your bank might not be helping your savings grow as much as it could.

Most high street banks offer some of the lowest interest rates on standard savings accounts. That means your money is benefitting them more than you.

Right now, other banks – some you might not have heard of – are offering significantly higher rates.

These aren’t risky start-ups. They’re fully regulated, FSCS-protected banks, just like the one you’re with now. They’re often digital-first, designed to offer better deals.

That means your money is just as safe, but it could be earning a lot more in interest each year.

The longer you stay loyal to a low-rate bank, the more you lose.

So, if your savings are sleeping, earning next to nothing, it’s time to explore better options.

Switching accounts is easier than you think, and you don’t have to close your existing account – just put your money somewhere it can grow faster.

Flagstone can help you access better interest rates quickly. Find out more today.

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