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Interesting rates?

Apparently, around eight in ten savers have no idea how much interest they are earning on the money they have in the bank.

If you offset interest with inflation, which is running high at 4.2 percent, the average rate is below 1 percent, with the value of what you've got decreasing rapidly.

Most 18-24 year olds are indifferent to how much interest they have coming in, with 89 percent having little or no clue, And, according to a survey by HSBC, the apathy extends to even 35-44 year olds, 84 percent of whom are clueless about how much their money is making.

To actually find out how much you getting though is more of task than you'd think. Most banks don't publish their rates, and you have to call them or perhaps trawl through a list of interest rates to find your account.

It might in the long run be a better option to invest in shares, as these tend to always outperform cash investments. If you do decide to take this option, make sure that you can access your savings in case of an emergency, or start a separate account.

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