The over-65s are cut off from the best savings deals because the top paying accounts are increasingly only accessible for online banking customers.
One in five (21pc) of the over-65s do not use online banking, according to research by Ford Money, the banking arm of the car business.
But the savings deals with the best interest rates mostly require being opened or managed online. For example, four of the top five easy-access deals with the best interest rates can only be opened via the internet.
The top rate is 1.5pc, offered by Cynergy Bank, Virgin Money and Marcus, Goldman Sachs' new savings business.
The best rate for offline savers is 1.44pc, from Sainsbury’s Bank, which can be opened over the telephone.
The top five one-year and two-year fixed-rate cash Isas must be opened online, and the top four variable-rate Isas are also online-only.
Four of the top five best one-year and two-year bond rates also require the internet.
In December Telegraph Money found the average rate for online-only easy-access accounts is 1.03pc. The average rate on easy-access accounts savers can operate in branch or by phone, post or online is 0.58pc.
Tom Adams, of money experts Savings Champion, said: “It’s a fact that many of the best deals are only available online. There are those that don’t have access to online facilities, and that means they could be missing out.”
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Suzanne Lewsley, of Ford Money, said: “Generally, millennials are recognised as the main users of online banking services, and it’s often assumed older savers are missing out on some of the best online deals. However, the findings from this survey and our customer data demonstrate that this isn’t always the case.”
Ford Money said older savers have become “more comfortable” with using digital banking.
Almost two-thirds (61pc) of those 65 and above surveyed prefer to use online banking rather than visit a branch.
Most of this group said they found it convenient while 45pc said they valued not having to travel to a branch.
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