Martin Lewis has issued a warning to anybody who holds a savings account in the UK saying they could be losing out on money.

The Money Saving Expert founder has gone above and beyond to offer advice to Brits amid the rising cost of living from advising how to claim government support to how to navigate energy bills as they skyrocket.

But the cash-saving guru has now turned to savings accounts with people saving more than usual during the pandemic.

Writing in his latest money saving newsletter, the consumer champion revealed UK households saved an estimated £180billion extra as society shut down following the coronavirus outbreak.

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Martin Lewis tells Brits ‘don’t stand’ for saving account rates

Following the pandemic saving rates have jumped back up to their highest levels since July 2019 with Mr Lewis suggesting that if your saving rates are less than 1.5% then there will be better deals on the market.

Writing in his newsletter, he said: "The minimum savings should pay is 1.5% - as that's what you can get in the top easy-access account. If you've not switched savings account in the last couple of years, you're likely earning just 0.1% or less.

"Even if you opened a decent account a few months ago, as rates have increased, you're still likely earning little more than half of what today's top accounts pay. Though of course you know that, as you've already checked... sorry for going on about it."

Mr Lewis has even put together a handy list of options offering up to 2.3% on your savings if you can afford to put away cash on a fixed term declaring if your are being paid less than 1.5% “don’t stand for it”.

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