“It would be great to see more providers improve their offerings but savers would be wise to check the terms of their account before they invest as some can carry eligibility criteria or pose withdrawal restrictions.”
Elsewhere, further details on the green savings bond which is to be offered by NS&I is expected to be announced this week.
Amid the reports, Becky O’Connor, Head of Pensions and Savings at interactive investor, shared her thoughts on the upcoming savings product, which was announced earlier this year.
She said: “Green NS&I bonds will potentially be the Holy Grail for savers who want to do their bit but do not want to put their money at risk, as these bonds will be backed by the Treasury.
“Research suggests that the majority of UK savers want their investments to consider people and the planet alongside profits.