Laughable interest

nobby24

I have £4550 in my First Direct Everyday Esaver account, last October I was getting 4.65% interest, I've not been following what it's gone down to but I know it's something pathetic, got my monthly interest today ... 77 pence!

:rotfl:

bagsacash

Yeah and the public have to pay twice to bail the banks out, once through government handouts and then with our savings.

nobby24

I sometimes let my current account stray into overdrawn, I didn't use to bother but there's no way now, I don't think they take the same amount of interest as they give!

97trophy

nobby24 wrote: »

, I don't think they take the same amount of interest as they give!

No because that would be dumb! The banks have made enough dumb decisions we now need banks to make profitable decisions.

You need to visit moneyfacts.co.uk and find a new bank to move your savings to.

littlemrtinkle

why not move the cash to a cash isa? max investment £3600 a year.

barclays golden isa 3.61 % and halifax 3% fixed some of the current top payers
Isa's are tax free and in the near future when rates rocket you could be pounds in pocket.

Other options are barclays monthly saver 6 %, (pay in up to £250 each month for 12 months)

nobby24

I used to have quite a large amount in this account but when the interest rates started to plunge I transferred the bulk of it to a Saga Tracker account. I keep this money in my FD EEsaver to service my payments into Regular Saver and Regular Saver ISAs I have with them getting 8%/7% for 12 months.

Milarky

Given the falls in most of the 'good' instant access accounts, would it not be worth trying to list all the alternative 'no notice' accounts offering better rates?

Essentially all the bank 'e savers' are rubbish now - paying for the convenience of instant transfers etc. Yet I have some building society 'e savers' too which (though not as accessible) do pay rather more.

For example

Market Harborough 'On the dot Instant' 2.50%

[To think we'd ever see the day when that looked good!]

opinions4u

nobby24 wrote: »

I have £4550 in my First Direct Everyday Esaver account, last October I was getting 4.65% interest, I've not been following what it's gone down to but I know it's something pathetic, got my monthly interest today ... 77 pence!

Did you not notice the occasional news report about interest rates coming down over the past few months?

nobby24

opinions4u wrote: »

Did you not notice the occasional news report about interest rates coming down over the past few months?

Yes, that's why as I said previously I transferred the bulk of my savings to a Saga tracker, it still amused me when I saw the interest I received from an account which six months ago was quite good.