Capital One drops its saving rates by whopping 2%

miserable_ol_so_n_so

Capital One has dropped rates on savings by a whopping 2%. I've just pulled my savings out. I only found this out accidentally. I think they dropped them on 14 Nov. Check out their web site.

Baldur

Reported on eMoneyfacts on 11th November - https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=177959

roddydogs

Yup-but where do you put them that wont go down?

soulsaver

roddydogs wrote: »

Yup-but where do you put them that wont go down?

Capitol one fixed rate 6.3 was available a couple of weeks ago...just grabbed it in time:thumb:

bristolleedsfan

roddydogs wrote: »

Yup-but where do you put them that wont go down?

Thats right people seem :shocked: that such rates have fallen in line with the last two base rate decreases. 0.50%+1.50% = 2%. ( 1.8% total reduction in respect of bonus saver account) :rotfl: My belief is that after 1st December 4.50% will be one of the highest rates available for instant/easy access.

20.00 Cashback is still available via Quanti Cashback site for opening a Capital One Savings account with a minimum investment of 500.00.

miserable_ol_so_n_so

roddydogs wrote: »

Yup-but where do you put them that wont go down?

Not with the institution that drops rates thats for sure......if I and others do not pull money, and shift money about (which is easy enough to d online), the banks will not have any incentive whatsoever to give a better deal to existing savers.I would rather leave my money at NSandI, to keep it out of banks hands.

Right now, my withdrawal is on its way to natwest, where its 6%. If that drops, I will shift it.

miserable_ol_so_n_so

bristolleedsfan wrote: »

:rotfl: My belief is that after 1st December 4.50% will be one of the highest rates available for instant/easy access.

How come most mortgages havent come down?...also how come capital one credit card rates havent come down? Seems like all that the bank of england base rate cuts achieve is to penalise the savers.

bristolleedsfan

miserable_ol_so_n_so wrote: »

Right now, my withdrawal is on its way to natwest, where its 6%. If that drops, I will shift it.

It will drop, possibly by a "whopping" 1.5% or 2%. :rotfl: