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Savers have revealed their savings priorities, with holidays, buying a home, building financial security and putting money aside for retirement topping the list, Paragon Bank research reveals.

Nearly half of active cash ISA savers are seeking to invest early in the new tax year to take advantage of the tax-free wrapper, Paragon Bank research has revealed.

Paragon Bank research has found nearly four out of 10 parents support their children on an ongoing basis and a quarter of grandparents regularly help their grandchildren financially.

With the ISA window drawing to a close, Paragon Bank has increased rates across a range of fixed-rate cash ISAs.

The amount of cash held in adult ISA accounts rose by nearly a fifth last year as savers took advantage of rising fixed-rate product pricing, Paragon Bank analysis shows.

The number of adult non-ISA savings accounts with balances large enough to incur tax on savings interest has tripled in the past year, according to new analysis from Paragon Bank.

Brits missed out on an estimated minimum of £6.9 billion in savings returns in 2023 by leaving their money languishing in current accounts that do not pay any interest.

Festive present buying for children, partners and wider family and friends is set to be cut this year as people rein in spending.

Nearly 2m new fixed and instant access adult savings accounts opened in the 12 months to August 2023 offered a rate of 1.5% or less, suggesting some savers still aren’t shopping around.

Paragon Bank has launched a new issue of its Double Access savings account, paying a market-leading 5.25% AER*.

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