HSBC UK planning to boost its savings rates

HSBC UK plans to boost savings rates and will give further details next week.

Referring to the bank’s savings offering, an HSBC spokesman told the PA news agency: “Following a review, we will be increasing rates shortly and making other changes, and we will be in a position to share the specifics early next week.

“But we fully support the Government calls for customers to contact their bank or building society at the earliest opportunity if they have money worries, as it will not affect their credit score.”

Ian Stuart, CEO of HSBC UK, was among the bosses of major banks who attended a meeting with Jeremy Hunt on Friday.

Lenders have agreed to a new mortgage charter to throw added lifelines to struggling borrowers.