Savers looking for the stability of a fixed-rate account over the long term are facing pitiful returns as rates have plummeted throughout 2016.
At present, the best buy five year fixed-rate savings deal in the This is Money savings table pays a paltry 1.95 per cent. In January 2016, after a brief flutter of competition among new providers, savers would have been able to beat this rate – with a 12-month fix.
It means savers would have to lock away their cash up for an extra four years if they want to obtain the returns they would have easily bagged at the start of the year, when Close Brothers Savings had a two per cent rate over 12 months.
Self-assessment
People wishing to file their tax return on paper face a looming deadline, but flexible workers in the self-assessment process need to be aware of the rules.
About one in 10 people in the system files tax returns on paper. The
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