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Martin Lewis explains why savers should lock in fixed rates ‘now’ ahead of Base Rate rise | Personal Finance | Finance [Video]

Martin Lewis issues warning on broadband inflation

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With the  Base Rate forecast to increase again on February 2, many may be questioning whether a fixed rate  account is a good option to garner the best returns right now. Financial Journalist addressed the query on The Money Show this evening.

Fixed rate savings accounts can add another layer of certainty to savings, as savers are able to lock in the rate offered at the time of opening the account.

This means the bank or building society cannot change the interest rate during the term of the bond, which works well for account holders hoping to save long-term.

However, while savings rates are typically influenced …

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