samboy Posted February 2, 2021 Report Share Posted February 2, 2021 Hi gang. Just got an e mail from Nat West telling me my saving rates are being reduced. I'm only getting 0.1% now. Time to have a look around me thinks. Unless all banks are doing the same. Quote Link to comment Share on other sites More sharing options...
Rupert Posted February 2, 2021 Report Share Posted February 2, 2021 Its pretty poor everywhere. Quote Link to comment Share on other sites More sharing options...
strimmer_13 Posted February 2, 2021 Report Share Posted February 2, 2021 Got mine in nsi and that's gone down months ago Quote Link to comment Share on other sites More sharing options...
JTaylor91 Posted February 2, 2021 Report Share Posted February 2, 2021 If you’re open to some risk you could put some into a copy portfolio of an investor. Quote Link to comment Share on other sites More sharing options...
mel b3 Posted February 2, 2021 Report Share Posted February 2, 2021 Can anyone remember when you used to get your yearly statement from the bank , you'd look at the interest earned and you'd think , oh yes , free money 😊. Quote Link to comment Share on other sites More sharing options...
Ultrastu Posted February 2, 2021 Report Share Posted February 2, 2021 Long long time ago . Quote Link to comment Share on other sites More sharing options...
old'un Posted February 2, 2021 Report Share Posted February 2, 2021 1 hour ago, mel b3 said: Can anyone remember when you used to get your yearly statement from the bank , you'd look at the interest earned and you'd think , oh yes , free money 😊. I remember when we were paying around 15% interest on our mortgage and savers were getting around 8%-10%, then when I retired 2008/2009 the interest rate went into a nose dive and our savings were earning peanuts, so I moved most of our money into low risk investment ISA which have given far better returns on our money. Quote Link to comment Share on other sites More sharing options...
al4x Posted February 2, 2021 Report Share Posted February 2, 2021 2 hours ago, strimmer_13 said: Got mine in nsi and that's gone down months ago I’ve got the proceeds of our house sale in there pending the next purchase. It’s gone from earning £450 a month to £45 it’s almost funny how poor the return is but all you can say is it’s safe in there Quote Link to comment Share on other sites More sharing options...
Morrisman Posted February 2, 2021 Report Share Posted February 2, 2021 Just got £175 from premium bonds, that's a good return. And it's not the first!!!! Quote Link to comment Share on other sites More sharing options...
London Best Posted February 2, 2021 Report Share Posted February 2, 2021 2 hours ago, old'un said: I remember when we were paying around 15% interest on our mortgage and savers were getting around 8%-10%, then when I retired 2008/2009 the interest rate went into a nose dive and our savings were earning peanuts, so I moved most of our money into low risk investment ISA which have given far better returns on our money. When I retired from full time work in 2002 we could have lived on the interest from our savings. It’s a good job we didn’t need to, since 2008 the interest doesn’t even pay for my shooting! Quote Link to comment Share on other sites More sharing options...
Jaymo Posted February 2, 2021 Report Share Posted February 2, 2021 2 hours ago, al4x said: I’ve got the proceeds of our house sale in there pending the next purchase. It’s gone from earning £450 a month to £45 it’s almost funny how poor the return is but all you can say is it’s safe in there Not exactly, your only protected for a max of £85000 per institution ( remember though that some banks are under one umbrella) Quote Link to comment Share on other sites More sharing options...
Sussexboy Posted February 2, 2021 Report Share Posted February 2, 2021 (edited) 23 minutes ago, Jaymo said: Not exactly, your only protected for a max of £85000 per institution ( remember though that some banks are under one umbrella) If you have a joint account I believe you get a double allowance, so £170000. NS&I are government backed and guarantee your entire deposit. They are the only institution to do this. Edited February 2, 2021 by Sussexboy Quote Link to comment Share on other sites More sharing options...
TRINITY Posted February 2, 2021 Report Share Posted February 2, 2021 18 minutes ago, Jaymo said: Not exactly, your only protected for a max of £85000 per institution ( remember though that some banks are under one umbrella) Yes always worth remembering that. But you can double that with a joint account ,that's unless you dont want the missus to get her hands on it. 😉 The problem with these unusual times is knowing where to invest it. I would say everything has a greater element of risk the way the world is. There is also talk of wealth tax and capital gains tax rise on the horizon. Those measures could also take the gloss of other investment opportunities. Quote Link to comment Share on other sites More sharing options...
Dougy Posted February 2, 2021 Report Share Posted February 2, 2021 Its pants everywhere, im thinking about investing in gold, but even thats dropped a fair bit. Quote Link to comment Share on other sites More sharing options...
al4x Posted February 2, 2021 Report Share Posted February 2, 2021 2 hours ago, Jaymo said: Not exactly, your only protected for a max of £85000 per institution ( remember though that some banks are under one umbrella) Except with NSI who are government backed Quote Link to comment Share on other sites More sharing options...
Jaymo Posted February 2, 2021 Report Share Posted February 2, 2021 21 minutes ago, al4x said: Except with NSI who are government backed True. Quote Link to comment Share on other sites More sharing options...
oowee Posted February 2, 2021 Report Share Posted February 2, 2021 (edited) My balancing account pays a lower interest rate the more cash is held in it!!!! https://www.youinvest.co.uk/cash-savings#list Edited February 2, 2021 by oowee Quote Link to comment Share on other sites More sharing options...
blackbird Posted February 2, 2021 Report Share Posted February 2, 2021 (edited) 21 hours ago, old'un said: I remember when we were paying around 15% interest on our mortgage and savers were getting around 8%-10%, then when I retired 2008/2009 the interest rate went into a nose dive and our savings were earning peanuts, so I moved most of our money into low risk investment ISA which have given far better returns on our money. Back then you could buy a decent house for £25,000 today you are lucky to buy a Wendy house for under £150,000. Edited February 3, 2021 by blackbird Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.