The Daily Express reports that high street banks are facing demands to increase interest rates for savers – with some as low as 0.1 per cent.

The high street banks are being accused of “ripping off” loyal customers by offering “unjustifiably low” returns on savings despite recent rises in interest rates, according to the Daily Express. 

The paper quotes former pensions minister Sir Steve Webb calling for “effective and enforced action” by regulators.