Speaking on This Morning, Martin shared how those wanting to boost their savings could get their hands on the rates.
He said: “Use a high interest bank account savings product.
“These are bank accounts not savings, but you don’t have to switch to them to do it (you can keep your current bank account if you want) though you will have to meet their terms, which usually involves paying in a set amount each month and having direct debits set up. They work like easy-access savings accounts though.
“Nationwide FlexDirect pays five per cent AER on up to £2,500 for the first year (it drops to one per cent after) and Tesco bank pays three per cent guaranteed until April 2019, on up to £3,000.
“Santander’s 123 account pays 1.5 per cent AER on up to £20,000 and up to three per cent cashback on certain bills.
“Santander does have a £5/month fee, and you need to pay-in min £500/month, but the cashback benefits should easily cover this.
“Of course if you’re a couple you can double this by opening more than one, and some of these banks allow you to open two accounts per person.”
For those who are happy to switch, Martin also recommended a selection of great accounts.
He said: “If you put money aside each month, then on that you can earn higher interest with a regular savings account.
“The top payers are only for those with certain bank accounts, so if you bank with First Direct, M&S, Nationwide, Santander 123, or HSBC Premier, check if you can get one paying five per cent.
“Yet you can usually only put in around £250 to £300 a month for a year.
“If you don’t have one of these accounts, or don’t want to open a new one, then Leeds Building Society is the top one available to all regular savers, at 2.3 per cent.”
As well as a savings account, Martin advises getting a pension in order is a must, and gave a step-by-step guide on This Morning.
Talking to Holly and Phil, he said: “If you’re an employee and you work in a firm with over 50 people, your employer automatically opts you in now to saving for a pension.
“You are allowed to opt out, and if you do, effectively people are giving away a massive pay rise and its a real warning to people to not just do this thinking ‘oh I don’t really wanna be bothered with that’.
“When you’re opted in, not only do you save to your pension, but by law, your employer has to put in too.” But you shouldn’t stop there, as Martin explained.