Brits keeping good saving habits

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More than one in ten people have opened a savings account in the past three months, new figures show.

In research released by Birmingham Midshires, some 11 per cent of Britons have taken out such a product, with six per cent switching savings provider.

Of those who have changed supplier, just over two-thirds (68 per cent) claim to have done so as they believe they could get a more competitive rate of interest elsewhere.

Meanwhile, 87 per cent of people surveyed state they have continued to save money as normal over the last three months.

Jason Robinson, director of savings operations for Birmingham Midshires, said: "It is encouraging to see that recent market conditions have not dampened Brits enthusiasm for saving.

"Clearly the majority of people are keen to maintain their good habits and save as regularly as they can."

However, James Ketchell, spokesperson for the Consumer Credit Counselling Service, claimed earlier this month that the "saving habit" is no longer a part of most consumers everyday lives.

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