So much for the credit crunch

MiserlyMartin

Lokolo wrote: »

Then keep complaining or transfer all your savings out into Index Linked Certificates.......

There are other options.

Complain, complain, complain, or do something about it.

I have no problem with interest rates because I have been getting decent interest compared to inflation. I have moved some of my savings out into investments incase of hyper inflation but apart from that I am happy.

Theres a limit to the amount you can put in index linked certs, its not a lot. And besides a lot of people do not want to tie the money up for 3-5 years. Please do tell about your other inflation proof investments I would love to know.

MiserlyMartin

Lokolo wrote: »

I used the BBC inflation calculator and I am currently in line with my savings rate.

Not sure why you are even looking at the base rate though. Savings are never in line with it, only the trend of going up and down when it does.

Yes savings rates are usually a little above the base rate, but not 3% above as now (for the best deals we have to chase). If it wasn't for this margin, which seems to be decreasing, we will be even more screwed as inflation rises as a result of printing and the falling pound.

Lokolo

MiserlyMartin wrote: »

Theres a limit to the amount you can put in index linked certs, its not a lot. And besides a lot of people do not want to tie the money up for 3-5 years. Please do tell about your other inflation proof investments I would love to know.

My investments have gone up 30% in the last year..... now why on earth would I tell you what they are??

And Index Linked - not a lot? As I recall its £15k per issue......

Lokolo

MiserlyMartin wrote: »

Yes savings rates are usually a little above the base rate, but not 3% above as now (for the best deals we have to chase). If it wasn't for this margin, which seems to be decreasing, we will be even more screwed as inflation rises as a result of printing and the falling pound.

As I said, if you think that, do something about it, stop cominign on here whining about it.

I agree, its a complete pain at the moment for people that just want to shove their money away in a savings account and not think about it, but thats their problem.

Look after your money so it looks after you.

RayWolfe

MiserlyMartin wrote: »

Theres a limit to the amount you can put in index linked certs, its not a lot. And besides a lot of people do not want to tie the money up for 3-5 years.

15K per person per issue. You could do 15 + 15 (1 three, 1 five) today and another 15 + 15 on 7th April. You are not tied in after the first year.
I hope that information is helpful. That is what the site is all about.
I believe there are other sites to discuss politics and economics.

MiserlyMartin

Lokolo wrote: »

My investments have gone up 30% in the last year..... now why on earth would I tell you what they are??

And Index Linked - not a lot? As I recall its £15k per issue......

30%. Stockmarket I guess or something related....you were lucky. Without risk to capital which is what this site mainly deals with, savers are screwed.

JamesU

RayWolfe wrote: »

15K per person per issue. You could do 15 + 15 (1 three, 1 five) today and another 15 + 15 on 7th April. You are not tied in after the first year.
I hope that information is helpful. That is what the site is all about.
I believe there are other sites to discuss politics and economics.

RayWolfe, don't be a party-poop. I am having such a nice afternoon listening to this discussion.

JamesU:rotfl:

MiserlyMartin

RayWolfe wrote: »

15K per person per issue. You could do 15 + 15 (1 three, 1 five) today and another 15 + 15 on 7th April. You are not tied in after the first year.
I hope that information is helpful. That is what the site is all about.
I believe there are other sites to discuss politics and economics.

I have seen this mentioned yet if you look at the NS cert it says you only get the full rate if held for the full term. I admit I have not looked into this further to see how MSE posters get around this.

RayWolfe

OK.
You are not tied in at all, you can get your money back at any time.
If you do it in the first year you get no interest and no RPI addition.
The 1% pa is paid at the rates of:
0.85% + RPI in year 1
0.95% + RPI in year 2
1.21% + RPI in year 3
That breakdown is to encourage holding to term and works out to 1% pa over the term.
(This illustration is for the current 3 year issue 19)

RayWolfe

JamesU wrote: »

RayWolfe, don't be a party-poop. I am having such a nice afternoon listening to this discussion.

JamesU:rotfl:

Sorry.
Will try again another day .............