More than £116 billion in fixed-rate savings accounts will mature by the end of this year, putting millions of savers at risk of seeing their interest earnings almost halved

More than £116 billion in fixed-rate savings accounts will come to an end by the end of the year, with over 3.5 million accounts facing a significant drop in earnings unless they take action. To avoid losing out experts are advising savers to check their accounts and search for better interest rates before their deals expire. ‌

When a fixed-rate deal ends, many banks automatically move your money into a lower-interest account which could mean much lower returns for savers. ‌

The average interest rate people are getting on these maturing accounts is around 4.5%. If they do nothing, their money will likely be

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