Martin Lewis savings account advice and whether you should fix or not

Martin Lewis has provided some extra advice for savings on the latest episode of ITV's The Martin Lewis Money Show (November 28).

The new advice comes after inflation hit a lower rate than the Bank of England's Base Rate which is significantly good news for savers. Martin explains that the new figures indicate that people can now make their savings work for them.

Speaking to his audience, Martin said: "I think we're probably at the peaks of savings rate." However, he highlighted that he can't predict rates in the future and rates are subject to change.

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He added that up until now, "savings have been losing" but highlighted that top savings now pay more than inflation which means money is growing "in real terms" but with one caveat. He highlighted that people are only benefitting if they're in the "top-savings accounts".

He advised savers to check what they're earning on their accounts and if they're earning anything less than 5 per cent then they should look for an increase. To help maximise your savings though, Martin highlighted that people can have "multiple savings and multiple accounts" so they can choose accounts with better rates and put all their savings cash where they will earn the most on it.

He later added in the show: "The highest possible interest rates come from regular savings accounts where you can earn up to 8 per cent." Martin highlighted some of his top picks but noted that savers can only put a small amount in each month.

He continued: "If you have a lump sum, what you could do is just drip feed the money from your normal savings