Bennie added:

"Continued global economic uncertainty means this long period of record low interest rates is going to get even longer which is grim news for cash savers. While macro-economic decisions may be out of our control, creating a diversified savings portfolio is an option, savers can take to regain control their financial future.

“Stocks and shares ISAs offer the opportunity to grow money over the long-term, and although risk is attached, savers need to have these products on their radar in order to be able to gain from the returns they can offer.”