If you have savings then you should be on the Internet. This gives you the power to open a number of accounts and manage them from your home. It is safe…. the FSA regulate this sort of thing.

Thus the internet gives you the power to move your money to the lender who gives the highest interest rate!

Three of the best site to find the best interest rates are….

1 Martin Lewis’ Moneysavingexpert.com
2 Moneysupermarket.com
3 Moneyfacts.co.uk

If enough of us do this then the lenders will have to compete to gain the money to lend, and you, the saver, can exert some real power over the returns for your money.

I personally think that a return of 5% plus the rate of inflation is reasonable, with 3% for the lenders. If a borrower cannot pay at least 10% return, over a whole YEAR, then they should not be borrowing!

It is time to get some real competition into this market.