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Over £460 billion in UK savings deposits is sitting in Instant Access non-ISA accounts offering only 0.5% interest or less, new Paragon analysis of CACI data has found.

Savers with a non-ISA account could be losing out on tax savings by keeping their cash outside of the tax-free wrapper as interest rates rise, analysis by Paragon Bank has found.

UK savings growth fell in June by almost 70% compared to 2021, new analysis by Paragon Bank has found. 

Paragon Bank has relaunched its Triple Access ISA at a market-leading 1.65% AER, further enhancing its competitive ISA range and features.

Savers are cutting down on both essentials and entertainment, new research has found - with four out of five intentionally using less energy to save money. 

Nearly one in 10 retirees have returned to the workforce or are considering doing so as the cost-of-living crisis bites.

Paragon Bank has reached the £10 billion customer savings deposits milestone, eight years after launching its first savings account.

Savers should take advantage of ISAs, make sure their savings attempts to keep up with inflation, and plan for their future finds new research into what older savers would advise younger generations. 

Over £82 billion moved from non-ISA instant access accounts offering interest rates of less than 0.1%, finds research by Paragon Bank of the latest CACI data.

In his latest market update, Paragon Bank Savings Director, Derek Sprawling, provides his thoughts on how cash ISAs could soon close the gap on equities.

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