Nationwide raises interest rates on savings accounts – but does the hike beat inflation?

“Our new Triple Access Online ISA will offer a market-leading rate from a brand savers know and trust.

“For those who want to save outside of an ISA, we are also increasing the rate on our Triple Access Online Saver.

“We like to give savers a choice of fixed rates, which is why we are also launching a new range of one, three and five-year fixed rate products.”

Despite this recent rate hike, Michelle Stevens, a savings expert at finance comparison site, finder.com, warned that the rise in inflation means “it’s not looking positive” for those hoping to save.