Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Home Finance Searches for ‘savings account’ at a five-year high

Searches for ‘savings account’ at a five-year high

by uma


Analysis of Google search data reveals that searches for ‘savings account’ exploded 301% above the average in October 2022 – reaching the highest level over the past five years.

The analysis of Google trends data, by insurance experts A-Plan Insurance reveals that searches for ‘savings account’ are at a five-year high, as the cost of living crisis continues, and interest rates hit their highest levels in more than a decade.

In addition, searches for ‘lifetime isa’ have exploded to their highest peak over the past 90 days this week after money-saving expert Martin Lewis gave advice on his live TV show on the best accounts for first-time buyers, including the Lifetime ISA which has been available since April 2017.

It is currently extremely difficult to get onto the property ladder, but the spike in interest for a LISA is likely due to the government bonus they provide. A maximum of £4,000 can be put into the account every year, and on top of whatever money is put in, the government will add a bonus of 25%.

James Haynes, Branch Manager at A-Plan Insurance, commented on the findings: “As insurance brokers, we are always trying to help people protect themselves against the risks inherent in everyday life. A savings account does exactly that by providing a buffer for those ever finding themselves in financial difficulty. Having and using a savings account can allow for that peace of mind of a little extra money stowed away in times of emergency.

“With inflation, higher interest rates, higher energy bills, and rising property prices, getting onto the property ladder is harder than ever. Perhaps these huge spikes in searches can be explained by people wanting to give themselves the best chance of buying a property in the future.

“Different savings accounts provide various interest rates and it is important to do your research on the ones that provide the best return. The phrase ‘Best savings account’ has also seen a five-year high in Google searches, demonstrating the understanding that some accounts provide better interest rates and research needs to be done on the best one for your money.”