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Analysis of the latest CACI data by Paragon Bank shows that £418 billion of savers’ money continues to languish in savings accounts paying less than 0.1%. 

Derek Sprawling, Paragon Bank Savings Director, comments on today’s Bank of England Money and Credit Report for March. 

Nearly half of instant access savings accounts contain £500 or less, Paragon Bank analysis of the latest CACI data shows. 

Paragon Bank has increased rates across a range of fixed-rate ISAs, including a market leading one-year rate. 

Paragon Bank has increased rates across a range of savings products, including its popular Triple Access ISA and Triple Access Account. 

Instant access non-ISA saving accounts continued to dominate savings balances in December, accounting for 62% of the entire savings market, Paragon Bank analysis of the latest CACI data shows.

As we head into the final weeks of the current ISA season, Paragon Bank has increased rates across a range of fixed-rate ISAs. 

The increased cost of living is the main barrier for adults maintaining a savings goal, with those in the ‘squeezed middle’ age bracket hit the hardest, Paragon Bank research has found. 

Paragon Bank has increased rates across a number of its savings products, as well as launching an inaugural green savings fixed-rate bond aimed at helping improve the energy efficiency of UK homes. 

Paragon Bank has relaunched its Triple Access ISA and Triple Access Account, both paying a competitive rate of 0.65% AER variable. 

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551