Many People across the UK keep money at home rather than in savings accounts

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The Post Office advises UK savers to seek out best deals on savings accounts

People across the UK are keeping savings at home rather than placing them in a savings account, according to a report from the Financial Services Compensation Scheme. The report says the average amount kept at home as savings is just over £280. One per cent of respondents said they stored over £10,000 at home, while just under five per cent said they kept £1,000.

However, the Post Office advises that there are a wide range of savings accounts available, many of which offer easy and instant access to savings for anyone deterred from opening a savings account because they feel they won’t be able to get hold of their money in an emergency.

The Post Office recommends that those looking to open a savings account do their research and get the best deal possible for any savings account.

For those interested, setting up a savings account with The Post Office couldn’t be easier. People can find out more about its range of savings accounts from any Post Office branch, or they can apply online via the Post Office savings account website.

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