Active Saver Platforms: Maximise Returns on Cash

With interest rates still relatively high, but now falling, those individuals and companies with surplus cash should consider a new tool for obtaining the best interest rate, whilst also minimising the admin involved in continually searching for and opening new deposit accounts.  Active Saver Platforms are a new price comparison style website, that allows savers to, both, easily compare various products in the market and move money into them without the usual rigmarole and delay of opening a new bank account.

Such flexibility also makes it easy to de-risk savings away from a single bank, so as to maximise FSCS deposit guarantee protection on the £85k (maximum) saved with each institution.

With the interest rate cycle believed to have recently peaked, for cash that is not needed in the short term, now may be an opportune time to transfer and lock into a term deposit. If you are prepared to sit out a 12 month term, the best accounts for companies are currently offering just under 5%.

Disclaimer - All information in this post was correct at time of writing.