The Bank of England have confirmed that interest rates will remain at 0.5%.

Whilst this might be a good time for mortgage holders , the same cannot be said for savers.With savings rates at an all time low  you are lucky if you can get 3% on bank based deposits. Savers relying on income may find that they are  eating into capital to maintain their standard of living.

A useful resource is the website moneyfacts. They have a comprehensive list of the most current rates available.

An alternative is to look at investing in a broader range of assets such as Bonds, Fixed Interest and Gilts. This might help low risk savers to obtain a potentially better return, but there is a risk of capital depreciation. Although it is not possible to elimate risk from an investment portfolio it is possible to reduce the level of risk with an investment. A carefully constructed investment portfolio can help savers to maintain their level of income , whilst taking a cautious approach to investing.

To find out more about investment advice and how to get a better return on your savings why not contact us.

Consilium Asset Management are Independent Financial Advisers based in chipping Sodbury, Bristol, South Gloucestershire.