Key facts
- An easy access savings account is offering a 5% interest rate.
- Inflation is currently above the Bank of England's 2% target.
A new savings account has emerged offering a competitive 5% interest rate on easy access deposits. This development comes at a time when inflation continues to be a concern, remaining above the Bank of England's target of 2%. An expert from Moneyfacts, a financial information service, highlighted this attractive rate, suggesting it as a beneficial option for consumers looking to maximize their savings returns in the current economic climate.