OMG they cut my interest rate!

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swee'pea99

Legendary Member
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It's plummeted! Every £1000 I have in my savings account will now earn me, every year, a massive....10p!
 

DCLane

Found in the Yorkshire hills ...
Everyone's is dropping - mine's the same. I don't have £1 million in the bank though :whistle:

It's part of incentivising us to spend, not save.
 
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figbat

Slippery scientist
Is this a current or savings account? The interest rate on my savings account has just dropped from 1.2% to 1.05% AER, applicable to any investment amount up to £250k. Easy access, no fees, daily interest. Marcus, by Goldman Sachs.
 

srw

It's a bit more complicated than that...
It's part of incentivising us to spend, not save.
Not really. Banks would be delighted to hang on to your money so that can do something useful with it. It's more about protecting the economy by making money as cheap as possible to get hold of.
 

ColinJ

Puzzle game procrastinator!
Buy Premium Bonds for an average of a 1.4% return! (I read somewhere that it might be getting reduced to 1.3%, but that is still a lot better than most bank account rates.)
 

Drago

Legendary Member
That's why I play the market just a little. The returns aren't huge as I only started out with a bag of sand, but they're still more than my entire 6 figure savings pay in interest.
 
Location
Wirral
Buy Premium Bonds for an average of a 1.4% return! (I read somewhere that it might be getting reduced to 1.3%, but that is still a lot better than most bank account rates.)
On average they pay that, so you need luck, but for some others they get nowt - please make sure you only recruit losers - as I don't want to share ;)
 
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