Millions of savers have money in savings accounts paying as little as 0.1% interest, says the Independent.
A recent survey reveals that as many as 4 out of 5 savings accounts are ‘zombies’ – closed to new investment and paying pitifully low rates of interest. Savers are repeatedly lured into accounts paying bonus rates of interest – but when these end, the interest rate drops and the bank makes no effort to tell savers how little they’re getting.