Is there somethimg wrong with my savings account

yung

hhh316 wrote: »

Hi

I currently have £21000 in my Barclays saving account yet I'm only getting £1.15 a month interest after tax. Surely this can't be correct?

Please advise?

you are losing a lot of money, I got £6000 in a 1yrs monthly income bond with nationwide I get £12.40 every month after tax..

hhh316

Kavanne wrote: »

Which type of savings account do you have with them?

I think it's the e-saver one.

yung

hhh316 wrote: »

I think it's the e-saver one.

that is about right as it only pays 0.10% gross per year you need to shift your money if you want better interest

hhh316

Guys

I found that Nationwide are offering a 6 month e-bond at 2.32 net p.a.
Does that mean if I put my £21000 there I would get £81 a month for the 6 months?

rb10

hhh316 wrote: »

Guys

I found that Nationwide are offering a 6 month e-bond at 2.32 net p.a.
Does that mean if I put my £21000 there I would get £81 a month for the 6 months?

No - the P.A. after the interest rate means 'per annum', i.e. the rate you would get if you left the money there for a year. So you would get £40.60 per month for the next six months.

Kavanne

SavySaver wrote: »

I do work for them yeah.

I can't really argue about the rates being attractive but there are still some good accounts you could take advantage off.

Barclays savings account are very popluar at the monet and we are getting records amound of people want to bring their money to us.

Don't come on here and give your biased 'advice', that's not what this forum is about. We don't want you to try and sell to us and you won't get any points for it.

yung

rb10 wrote: »

No - the P.A. after the interest rate means 'per annum', i.e. the rate you would get if you left the money there for a year. So you would get £40.60 per month for the next six months.

Yes RB10 is correct but it is still more than what you are getting now.

hhh316

yung wrote: »

Yes RB10 is correct but it is still more than what you are getting now.

I may go for this one. Do you know of any better ones?

SavySaver_2

Thanks for you comment but u don't need to tell me what to do. I am not tryin to sell anything on here. I believe this is an open forum so I can really say wot i want.
I am mearly just replying to a post and giving my own opinion on it.

Kavanne wrote: »

Don't come on here and give your biased 'advice', that's not what this forum is about. We don't want you to try and sell to us and you won't get any points for it.

savetilibleed

Sorry to the OP and everyone else who thinks I can't calculate, I had it wrong to hell. I have corrected the post at http://forums.moneysavingexpert.com/showpost.html?p=20205515&postcount=6 It is about £41/month, not £16