Savers reach 16 year peak

Nia Williams

February 8, 2010

But whilst this is the highest since September 2008, one fifth (21%) of people are still not saving at all according to the latest Nationwide survey of savers.

Commenting, Andy Hutchinson, head of savings at Nationwide, said: “Although there is still a lot of room for improvement, it is nonetheless encouraging to see a rise in the number of savers in January 2010. This is despite the continued low interest rate environment – the last time there were so many savers, the Bank of England Base Rate was 5.00%. I think this shows that good returns are still available, especially for those who are willing to lock part of their savings into longer term bonds.”

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