Similarly, Chip's Instant Access account promotes a rate of 4.76% AER, but that includes a 1.26% bonus for only three months, after which the rate drops to 3.50%. As a result, the true AER is 3.82%.

On the other side of the ledger, the minimum wage has risen 77p to £12.21 an hour for staff aged 21 and over, and £1.40 to £10 for workers aged 18 to 20. This is some much-needed respite for ...