Banks 'doing as little as they can get away with for savers'

THE biggest banks have not done enough to reward savers despite warnings, frustrated MPs say.

- Robert Kellaway

Harriett Baldwin, who chairs the Treasury Committee, said Barclays, Lloyds, NatWest and HSBC have been too slow to pass on higher interest rates to depositors.

The Conservative MP said: "The big four banks have been far too slow to reward savers through better rates on instant access savings accounts.

"The Treasury Committee summoned them in February to suggest they offer better rates.

"They should have listened to our suggestion as there are signs that savvy consumers are switching for better rates elsewhere.