Two thirds of savers are losing money to inflation The research found that only 227 savings account of the 1,092 available on the high street paid a return that ensured savers" deposits kept pace with inflation. Andrew Hagger, a personal finance expert from Moneycomms.co.uk, said: "Many people will be shocked when they realise how low their interest rate has fallen and it should act as a wake-up call to investigate higher paying alternative savings options. With savings rates currently falling like a stone and inflation taking a chunk out of what little income that's generated, it's important that consumers make time to find out the interest rate they are getting on their nest egg. There are a number of ways that savers can boost returns on their money. They include taking out a tax-free individual savings account (Isa), locking their money away in a fixed-term account, which typically pays a higher rate of interest, or taking out an account that pays a temporary bonus rate to increase returns over the short term. Alternatively, there are a number of higher-risk options. These include so-called peer-to-peer lending websites such as Ratesetter and Zopa, which typically pay far higher rates of interest. However, this money is lent to other individuals, and there is a risk that if they don't repay then part of your capital could be at risk. Savings are not protected by the Financial Services Compensation Scheme. Rhydian Lewis, the chief executive of RateSetter.com, one peer-to-peer lender, said: "Banking has become so complex and such poor value that many savers have just given up and put their head in the sand. The emergence of radical new online models such as peer-to-peer lending is giving the more active saver a route to getting a decent return on their money.