NS&I’s Quarterly Savings Survey suggested that Britons saved more of their monthly income during the second quarter of 2014 than they did during the same quarter last year.
Out of 2,500 16 to 65-year- olds surveyed by the government-backed provider, those aged 16 to 34 showed the most interest in saving.
More people claimed there were prepared for the unexpected, as the number of people who do not think they have enough savings for emergencies declined from 33 per cent in the spring quarter of 2013 to 30 per cent in spring 2014.
Julian Hynd, retail director at NS&I, said: “It is particularly encouraging that those in the younger age group are starting to feel more confident about their immediate saving prospects. We hope this will translate into building a pot of at least three months’ salary.”
However, NS&I’s Nisa, the NS&I Direct Isa, pays 1.5 per cent AER – less than several high-street providers, some of whom are paying upwards of 1.7 per cent.
