Google searches for ‘savings account’ have exploded by 301% above the average in October 2022 – reaching the highest level in five years.
The analysis was completed by A-Plan Insurance, which has over 100 high street branches across the UK.
During its investigation, it also found that searches for ‘lifetime isa’ have also hit its highest peak over the past 90 days.
The rising search terms come as people try to better prepare themselves for the cost-of-living crisis, as well as seek help to get on the property ladder.
A-Plan Insurance branch manager James Haynes said, “With inflation, higher interest rates, higher energy bills, and rising property prices, getting onto the property ladder is harder than ever. Perhaps these huge spikes in searches can be explained by people wanting to give themselves the best chance of buying a property in the future.
“Different savings accounts provide various interest rates and it is important to do your research on the ones that provide the best return. The phrase ‘Best savings account’ has also seen a five-year high in Google searches, demonstrating the understanding that some accounts provide better interest rates and research needs to be done on the best one for your money.”
People are turning to Google with more questions about their finances. A recent study from Investing Reviews found that searches for ‘how to invest’ had shot up by 186% in the UK. It also found that searches for ‘investing for beginners’ have increased by 522%.
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