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IF to increase savings rate

Intelligent Finance will increase its top rate for savings to 6.5 per cent from 6.25 per cent from January 16, 2001. The rate is for savings of £100,000 and over.

Savers who also have personal loans with IF can receive up to 10.5 per cent on their savings. IF believes that best buy tables should be restructured to take account of lending and borrowing together.

IF chief executive Jim Spowart says: “I continue to be confounded by the reluctance of the best buy tables to take account of the true value integrated banking offers to consumers.”

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