Multiple santander123 accounts

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  • jimjames
    jimjames Posts: 17,625 Forumite
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    steadings wrote: »
    Life was so much simpler years ago with decent interest rates for savers!!
    On the other hand you never got savings interest rates of 4.5% above base rate and 5% above inflation.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    jimjames wrote: »
    On the other hand you never got savings interest rates of 4.5% above base rate and 5% above inflation.
    Now there's a challenge for someone! ;) What was inflation and base rate when the 10% (and 12%?) regular savers were running a few years ago?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    YorkshireBoy wrote: »
    Now there's a challenge for someone! ;) What was inflation and base rate when the 10% (and 12%?) regular savers were running a few years ago?
    To answer my own question, when Halifax launched their 10% (12% if £5K held in another account with them) regular saver (£500 a month) in July 2008, the base rate was 5.0%. Inflation at the time was 5% (RPI) and 4.4% (CPI).
  • jimjames
    jimjames Posts: 17,625 Forumite
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    YorkshireBoy wrote: »
    To answer my own question, when Halifax launched their 10% (12% if £5K held in another account with them) regular saver (£500 a month) in July 2008, the base rate was 5.0%. Inflation at the time was 5% (RPI) and 4.4% (CPI).

    Good research! So effectively no difference to now
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    jimjames wrote: »
    On the other hand you never got savings interest rates of 4.5% above base rate and 5% above inflation.
    Rephrasing that: you never got savings interest rates of ten times base rate.
    Eco Miser
    Saving money for well over half a century
  • jimjames
    jimjames Posts: 17,625 Forumite
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    Eco_Miser wrote: »
    Rephrasing that: you never got savings interest rates of ten times base rate.
    I did have that in my original post but changed it.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • colsten
    colsten Posts: 17,597 Forumite
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    Eco_Miser wrote: »
    Rephrasing that: you never got savings interest rates of ten times base rate.

    And the inflation at which your money lost value wasn't zero, as it essentially is now.
  • steadings
    steadings Posts: 4 Newbie
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    YorkshireBoy wrote: »
    To answer my own question, when Halifax launched their 10% (12% if £5K held in another account with them) regular saver (£500 a month) in July 2008, the base rate was 5.0%. Inflation at the time was 5% (RPI) and 4.4% (CPI).

    So pretty much the same as now but you could just stick it all in one account and not have the hassle of all this switching, transferring and messing about.

    Like someone else on here somewhere I read, I will have enough trouble persuading the OH to open more than a joint acc let alone multiple ones with different banks!! But working on it:)
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    steadings wrote: »
    So pretty much the same as now but you could just stick it all in one account and not have the hassle of all this switching, transferring and messing about.
    Just one account, maybe, but it was a Regular Saver, so you still had the messing about of transferring from another account every month.
    Eco Miser
    Saving money for well over half a century
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