Individuals Who Chose Fixed Rate Savings Accounts over Variable Are Reaping The Benefits

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First Direct have released data that shows savers who chose an easy access account instead of a fixed rate account, have been losing out on a massive £629 million in interest every year.

The new research also showed that over the same amount of time the variable rate products gave less of a return than the fixed rate deals.

This will come as no surprise that people with variable rates were worst affected when the base rate dropped to its lowest ever in March 2009.

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Fixed rate savers reap interest returns

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