After a decade in which rates have sat near zero, giving savers little reason to shift their balances to competitors, the jump in Britain’s policy rate to 4 per cent is spurring competition not seen in years.

Source: https://cyprus-mail.com/2023/02/23/competition-hots-up-as-british-banks-fight-to-keep-earnings-rising-faster-than-costs/

And it beat up on savers and investors by penalizing capital gains, sending a message to not come here if you want to be successful.

Source: https://www.abqjournal.com/2585036/legislative-session-pathway.html

Are savers winners or losers?

Source: https://businessmirror.com.ph/2023/02/13/chinas-covid-deaths-in-hospitals-drop-72-in-a-week-as-wave-eases/

Banks are paying up for savers' deposits in a much bigger way than they have in more than a decade, based on the earnings reports from the nation's biggest banks out over the past week.

Source: https://rapidcityjournal.com/lifestyles/technology/banks-are-paying-savers-again-after-many-years-of-low-rates/article_caf895c0-d214-5b44-9f57-2aa37184d2c4.html

Banks have to point this fact out in their terms and conditions, but many savers remain unaware of it.

Source: https://www.dailymail.co.uk/money/saving/article-11844465/Regular-saver-rates-7-earn-cash-account-paying-half-that.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Canny savers are shifting their hard-earned cash to higher interest rate savings accounts in a blow to High Street banks.

Source: https://www.dailymail.co.uk/news/article-12684403/High-street-bank-profits-hit-savers-shift-hard-earned-cash-higher-rate-savings-accounts.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Earlier this week the FCA said banks were too slow to pass on base rate hikes to savers, and set out a 14-point plan for them to sort the problem out.

Source: https://www.dailymail.co.uk/money/saving/article-12361145/Big-five-banks-rake-18-4-BILLION-paying-savers-low-rates-year.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

French satirical Illustration from 1908 showing a run on the bank as panicked savers demand their cash.

Source: https://www.breitbart.com/economy/2023/04/01/pinkerton-how-the-rich-got-woke-went-broke-but-still-got-richer/

Given prevailing cash rates and yields, it’s easy to see why some savers are indulging in gilty pleasures.’

Source: https://www.dailymail.co.uk/money/diyinvesting/article-12618711/Investors-piled-129-000-five-gilts-paying-little-0-125-tax-free-boost.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

It only gave warning in the morning that savers had until midnight to get it.

Source: https://www.dailymail.co.uk/money/comment/article-12542609/SIMON-LAMBERT-rates-inflation-heading-old-normal.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Marcus by Goldman Sachs also notified savers of immediate rate increases.

Source: https://www.countypress.co.uk/news/national/23698989.interest-rate-hike-adds-24-month-average-tracker-mortgage-payment/?ref=rss

Marcus’ CDs offer a competitive rate with a wide range of terms to help savers hit every kind of investment goal.

Source: https://fortune.com/recommends/banking/the-best-cd-rates/

Mark Mullen, CEO at Atom Bank, which commissioned the research, said: “The big banks are making a fortune by not passing on rate increases to savers.

Source: https://www.dailystar.co.uk/life-style/money/switch-savings-provider-finance-bank-30465275

Ms Rose said the bank has passed on interest rate increases to savers and claimed that the bank was "helping people build regular saving habits".

Source: https://www.bbc.co.uk/news/business-64667668?at_medium=RSS&at_campaign=KARANGA

Once this allowance is exceeded, savers pay tax on their interest at their rate of income tax – in other words 20 per cent for basic rate taxpayers and 40 per cent for higher-rate taxpayers.

Source: https://www.dailymail.co.uk/money/saving/article-12299779/More-1-7m-savers-face-tax-bill-heres-cut-yours.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

“Pension savers also benefit from an investment boost, as investment returns are being earned from gross contributions.

Source: https://www.dailyrecord.co.uk/lifestyle/money/pay-less-tax-retirement-years-30665157

SEB board chair Allan Parik said that in addition to interest rates, customer uptake was a factor – though this in effect is related to interest rates anyway if talking about savers.

Source: https://news.err.ee/1609037960/economist-estonian-banks-can-boost-their-profits-further-still

Slovenian savers have long had some of the lowest interest rates on deposits in the euro area, even as interest on loans surged after the European Central Bank started hiking rates to combat inflation.

Source: https://sloveniatimes.com/39603/interest-on-deposits-finally-going-up

Still, despite the convoluted nature of some offers in the market, savers are – for the first time in a decade – finally back in a position to earn attractive returns on their money.

Source: https://www.smh.com.au/money/saving/australia-s-best-savings-accounts-how-to-get-a-5-percent-return-on-your-money-20230303-p5cp7c.html?ref=rss&utm_medium=rss&utm_source=rss_feed

Tax experts from AJ Bell have warned that for the first time in over a decade tax on money earned in interest will become a "serious problem" for savers".

Source: https://www.mirror.co.uk/money/hmrc-warning-issued-seven-million-31556240