LONDON: Some bank savings accounts in Britain are paying customers as little as 0.01 percent interest, the Financial Conduct Authority said on Monday as it published a report on the lowest rates offered by 32 providers.
Some consumers would do better to switch to a new provider offering a better rate but were unaware how little they were earning from their savings, the FCA said.
The Bank of England's benchmark interest rate stands at 0.5 percent.
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