Britain’s biggest High Street banks are betraying savers by stubbornly keeping rates at rock-bottom levels.
Worst offender Barclays pays customers with its easy-access account just 0.01 per cent — a miserly 10p for every £10,000 saved.
This is the same pitiful rate offered when Bank of England base rate was 0.1 per cent, despite five consecutive rises in six months.
Pitiful rates: Savers can earn 1.5% on easy-access accounts if they shop around online, but on the High Street, worst-offender Barclays is still paying a miserly 0.01%
Elsewhere, savers can earn 1.5 per cent, some 14,900 per cent more than with this dud Barclays account.
Yet the banking giant is content to raise its borrowing costs. From August 1, its default or standard variable rate (SVR) will rise to 5.74 per cent — one of the highest of all banks.
James Blower, The Savings Guru, says: ‘It’s disgraceful. Barclays moved at lightning speed to lift mortgage rates, and has the worst SVR, yet has passed nothing…
