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Goldfish increases savings rates

Internet and telephone based bank Goldfish has announced an across the board increase in the interest rates of its savings bonds.

Goldfish says it is bucking the recent trend in savings products which has seen interest rates slashed by banks and building societies.

For amounts between £0 and £4,999 the rates the annual rate is 3.71 per cent up from 3.61 per cent.. For investments between £5,000 and £9,999 the interest payable is 3.87 per cent up from 3.76 per cent, between £10,000 and £24,000 it is 4.13 per cent up from 4.02 per cent and for savings in advance of £25,000 the interest is 4.33 per cent up from 4.13 per cent.

Goldfish marketing director Charlie Herbert says: “With financial providers cutting their savings rates, and concerns over stock market volatility, the public is understandably confused about what to do with its money. We have taken the decision to increase our rates and make our accounts more attractive to both established savers and to those looking to put something away for the first time.”

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