Savers facing accounts with no interest

nilrem_2

alared wrote: »

WHERE ???????????????????????????

Well of course you cannot get rates that were available just 2 months ago but it is still possible to get Fixed rates paying around 4.40% gross which IMHO is a lot better than keeping it under ones bed or accepting a 0.12% rate on a non fixed account!

nilrem_2

Geoff_W wrote: »

Well, Natwest advertise their e-Savings account with the following words....

"...a rewarding rate of 1.30% AER (variable)" :eek:

Geoff

Agreed that rate is rubbish but then NatWest were never known for paying decent rates, regular readers here will have applied for the Esaver when they offered the bonus and will now be getting 3.39% rather than the 1.30%.

Note to get the bonus rate you had to open an esave account between 19 September 2008 and 01 January 2009.

Hungerdunger

alared wrote: »

WHERE ???????????????????????????

HERE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

meunier

Forgive my ignorance .... but will not inflation have to come home to roost at some point when the payment on the enormous government debt comes a calling .... the taxpayer's credit surely is NOT eternal ... and will not this HAVE to become clear by the end of the next year ... which i would assume would be good news, ultimately, for the savers - especially as they tend to be the soon-to-be 'older majority' - and have, for a goodly decade now - been imprudently (sorry Gordon) punished!!

Or am I simply exercising fancy ..... as is, I fear, sometimes my wont.

Dooooooooooooooonut

Lokolo wrote: »

Not going to happen.

If you ever hear these words come from someone's lips feel free to write them off as an idiot.

You can never rule anything out.

That said negative interest rates are unlikely and if they do happen you'll see them in Switzerland (most likely by far imo) or Japan well before the UK!

RayWolfe

Lokolo was and is perfectly correct. No idiot he.
The only time there were EVER negative interest rates was in Switzerland when everyone and his dog were getting out of their own currencies and putting it into Switzerland.
So you think people will get out of their currencies to get into sterling, do you? And you write off Lokolo off as an idiot!

Andrew64

The idea of 0% on savings seems to be catching on with the newspapers! It is unlikely (but I think 1% is possible), but if banks end up getting their funds from the government, they may decide that they don't need us savers so much! In that case we should simply go on strike! From the Sunday Times:

"Get ready for 0% interest on your savings and a pound worth only €1"

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5439508.ece

Dooooooooooooooonut

RayWolfe wrote: »

Lokolo was and is perfectly correct. No idiot he.
The only time there were EVER negative interest rates was in Switzerland when everyone and his dog were getting out of their own currencies and putting it into Switzerland.
So you think people will get out of their currencies to get into sterling, do you? And you write off Lokolo off as an idiot!

Of course I don't think they are going to do that.

But anyone who is ruling it out negative rates entirely is a complete moron. And do you really think a safe haven bid for sterling* is the only reason we could have negative interest rates? That sort of remark shows a complete lack of imagination and inability to think for oneself. How about massive deflation?

For what it's worth I think megainflation is substantially more likely.

*Safe haven bid for sterling is far harder to see than negative interest rates!

RayWolfe

well, ....... nah! Don't think I can be bothered. I've got the back of a packet of corn flakes to read.

SpongeBob_NoPants_2

alared wrote: »

WHERE ???????????????????????????

Anglo Irish Bank - Easy Access Account, no notice, balance £1 plus, Gross rate 4.55%.