Financial Times FT.com

Banks raise minimum deposits by thousands

By Elaine Moore

Published: March 16 2009 23:05 | Last updated: March 16 2009 23:05

Bank customers are being asked to deposit tens of thousands of pounds in order to open high street savings accounts that pay negligible rates of interest.

Banks and building societies are raising deposit requirements for savings accounts while simultaneously paying out some of the lowest interest rates in history.

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