Demise of the last 7%er...

Lokolo_2

I have 7.67% with ING (was Kaupthing Edge), It matures August 2011, only have a few £k in there but I'm not complaining! :beer:

D1zzy

Essex123 wrote: »

:money:thanks!

The not so good news is that my 6 & 7% accounts are only a smallish part of my cash savings. Across all my cash, the average rate is down to 3.82% currently, having seen a lot of good fixes drop off in the last 6 months and struggling to invest new cash at a decent rate.

I have a spreadsheet which I use to take an intra-month snap of my average cash interest rate. Its dropped off a cliff in the last 12 months, but is now stabilising:

Jul 09 - 5.26%
Aug 09 - 5.22%
Sep 09 - 5.17%
Oct 09 - 5.18%
Nov 09 - 5.00%
Dec 09 - 4.05% (loss of Halifax Guaranteed Saver Reward @ 6%)
Jan 10 - 3.97%
Feb 10 - 3.89%
Mar 10 - 3.94%
Apr 10 - 3.88%
May 10 - 3.83%
Jun 10 - 3.81%

Oooooo -now I feel a bit better my average is currently 4.36% which will drop to 4.08% once the 7%er is dead

Soooooooo sad -getting excited about 4%

musehead

I remember at the time many people were suggesting it would be a bad idea to invest in the 7%+ bonds for any longer than 1 year, because lots of people thought interest rates would increase even more. So I didn't invest in them The 1-year fixes I did grab are long gone.

Hungerdunger

Are you talking Gross or Net? If gross, then assuming I've done my sums right, I can currently trump you at 4.52%, although I have two 6%+ bonds maturing in the next three months, which will drag this figure down.

Rightly or wrongly, we've been going mainly for three year fixes since the rates dropped, and by doing this have managed to keep at 4% or above on the new accounts.