Economic uncertainty and rising costs causing Brits to move their money into fixed-rate accounts

Research conducted by Opinium on behalf of Charter Savings Bank has found that 43% of all adults are looking to increase their savings in a wider mix of accounts to maximise returns and flexibility, while 44% are looking to or have already locked in interest rates by opening fixed term savings accounts.

This is particularly stark amongst the younger generation, with younger savers aged between 18 and 30 the most likely to go for a fixed-rate accounts (55%).

Uncertainty and rising costs are major factors in driving this behaviour. Almost three quarters of Brits (73%) are concerned that rising energy bills will impact their finances during 2019, whilst 72% are concerned about rising food costs. Both economic (61%) and political (66%) uncertainty are also significant concerns for Brits today.

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