Our recent poll has revealed that consumers are looking for the safest place to put their money in the current economic climate.

In this month’s poll we asked our readers to tell us where they would rather put their money.

The majority of respondents said that they felt money was safest in National Savings & Investments, with 27% (59 people) saying this is where they would choose to put their money.

The second most popular response was ‘Northern Rock’ with 24% (51 people) saying they would choose to put their cash in a Northern Rock savings account.

However, if you consider these two together, because they are both government-owned and therefore all deposits are guaranteed, a massive 51% (110 people) voted for this unlimited protection.

Consumer confidence in other high street banks seems to be low at the moment with only 21% of respondents saying they would put their money in a high street bank other than Northern Rock.

Worryingly, 20% said that they would rather keep their money under their mattress or elsewhere in their homes. This is not only risky in terms of theft but will also result in the loss in value of your money because of inflation, which is currently at 5.2%. This means, ideally, your money should be in a savings account earning at least 5.2% interest just to keep it at the same value today as in the future.

Surprisingly, 8% of respondents (18) said they would choose to invest their money in property.

Lastly, thank you to all the compareandsave.com readers who took part in last month’s poll.

Click the link to compare savings accounts

Click the link to see the results in more detail

Take part in our NEW poll on credit cards here.