Unleash Your Savings: The Trillion-Pound Wake-Up Call

Sleeping Giant Unveiled in Canary Wharf

A gigantic figure crafted from two thousand counterfeit banknotes has been erected in London's Canary Wharf, serving as a symbol of 'sleeping savings'. Weighing more than a tonne, the installation seeks to bring attention to the startling £1.3 trillion sitting in low-interest British savings accounts, which are failing to match even half the Bank of England's benchmark rate.

Wake-Up Call for Brits

Known as the 'sleeping giant', the eco-friendly statue was commissioned by savings experts at Flagstone. Through the installation, Flagstone hopes to warn Brits about the amount of funds 'languishing' in underperforming savings accounts. Recent data from Flagstone shows that a staggering 48 per cent of Brits with savings accounts don't know their interest rates, with many rarely or never checking on their savings performance.

Take Control of Your Savings

"Most people aren't money experts. But the first step to earning more interest is taking an interest," stated a representative from Flagstone, stressing how Brits should take more care in selecting the best savings accounts. The research showed that currently 15 per cent of adults rarely spend time choosing a savings account, dedicating only a few minutes looking.

Empowering Savers

Another 30 per cent have stuck with their low-interest option for more than a decade. While 43 per cent say they recognize that their money could be working harder, they added they were unsure how to achieve this. Furthermore, a third expressed worries about financial risks. The spokesperson noted that while 'people are busier than ever,' it's suggested that a little bit goes a long way: "millions of savers could be earning double what they are today. The first step is staying informed, knowing your interest rate, and knowing where to look for better options. It's time to wake up the UK's savings. When every pound pays its way, savers can earn more, do more, and ultimately feel more secure."