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Can savers still beat inflation?

Unless your savings are growing at a higher rate than inflation, there is not a lot of point in saving, instead, you should use the money to repay debt.

One way of outstripping inflation, of course, is to put your money into an index-linked savings account, but National Savings has just withdrawn its index-linked savings certificates, so where do you go now?

Unfortunately, there is not a lot of choice, unless you want to get into the stock market, but the best internet accounts with variable rate interest may just beat inflation for non or basic rate tax payers. The top payer at the moment is Derbyshire NetSaver at 2.54% (3.18% gross).

To read the article in this week's Money Mail, please click on the link below.

Can savers still beat inflation.pdf

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