Following the Bank of England's shock decision to raise base rate by 0.25% to 5.25%, Paul Green of Saga comments:
"Following today's surprise announcement by the MPC to raise interest rates to 5.25%, we are pleased to announce that thousands of Saga Secure Savings customers will benefit from the full base rate increase from February 1st.
"We are also calling on all major banks to follow suit and pass on the full benefits of a hike in interest rates to their savers. They typically increase rates for their borrowers following any rate rise by the full amount, and we don't see why it should be any different for diligent savers."
The Saga Secure Savings Account is securely linked to the Bank of England base rate for the life of the balance.
For further press information please contact the Saga Press Office on: 01303 771529.