The amount of excess savings held by UK households has increased from £112 billion in January to £163 billion in October, research from Investec reveals.
Figures released today show that inflation has risen to 5.1% and experts expect it to increase further next year. As such, savers with excess savings should ensure that they deposit their savings in the best paying accounts to mitigate the impact rising inflation will have on the value of their savings in real terms.
Distribution Finance Capital Holdings plc (LON:DFCH) is UK specialist commercial lending and personal savings bank. From straightforward savings to practical finance solutions, our aim is to help customers manage and grow their business or savings. Founded as a specialist commercial lender in 2016, DF Capital was authorised as a bank in September 2020.