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CACI data analysed by Paragon Bank showed that the average savings balance now stands at a record £12,077 as savings balances have continued to grow throughout the pandemic. 

CACI data analysed by Paragon Bank  showed that easy access non-ISA savings have grown their market share consistently throughout the last year, and now account for a record 60% of total savings.

Paragon Bank has launched two new entries to the easy access market as well as boosting the rate on its two-year fixed rate ISA. 

CACI data analysed by Paragon Bank revealed the true cost of inertia, after it showed that nearly three quarters of easy access account balances are receiving well under the average easy access rate

The average easy access balance has continued its upward trajectory during lockdown and exceeded a record £11,000, according to CACI data analysed by Paragon Bank . 

Paragon Bank has launched a new Limited Edition Easy Access ISA, which is paying a rate of 0.41%, in order to expand the range of competitive cash ISA options available to savers for the new tax year.

The average easy access non-ISA balance has increased 10% year-on-year, from £9,995 to £10,989, as the easy access market continues its upward trajectory. 

The award-winning ISA provider has re-issued its Triple Access ISA account, which is paying a rate of 0.40%, in order to increase ISA options available to savers ahead of the end of the tax year. 

A survey by Paragon Bank found that topping up ‘rainy day’ funds and booking a holiday are two leading financial priorities for savers this year. 

The balance of easy access accounts earning a rate of 0.1% or less has nearly tripled since January, with 56% of easy access balances now earning a low rate.