How were the old rates?

stringer_bell

I've only been earning good money past couple of years, so only used to measly 0.5 base, what were the rates when things were good?

I know in 2000 the base rate went up to 6, but what were fixed rate accounts like a few years ago, and what were ISA rates like?

what was the best rate you managed to get?

I really couldn't imagine getting 6% on a savings account now!

uk1

Still have large chunks in Bradford and Bingley (now renamed) at 6.25% expiring Nov 2011, substantial ISAS for wifey and I in Halifax on 4 years @ 6.2% expiring 5/2012. One small chunk in Halifax @ 6.85% expiring 4/2013. I am extremely proud of these .....

They were around ...... but no more!

atypical

I think Kaupthing Edge offered some of the highest at 7.15% AER. The last of them are coming to an end in October of this year.

joerugby

uk1 wrote: »

Still have large chunks in Bradford and Bingley (now renamed) at 6.25% expiring Nov 2011, substantial ISAS for wifey and I in Halifax on 4 years @ 6.2% expiring 5/2012. One small chunk in Halifax @ 6.85% expiring 4/2013. I am extremely proud of these .....

They were around ...... but no more!

We have six figures in b and b until November too, not looking forward to it running out

Ifts

Back in 2008 I got 7.67% gross with Kaupthing Edge (taken over by ING during the 3 year fixed term) it matures end of Sept 2011 :sad:

stringer_bell

is it possible to withdraw the interest with these fixed rate accounts? or do you have to wait until it matures?

Ifts

All depends what the T&C's are of the fixed rate account, some pay monthly interest, some annually and others on maturity. Also you get fixed rate accounts where they stipulate that interest cant be added to the account and has to be paid out to a linked account.

atypical

Ifts wrote: »

Back in 2008 I got 7.67% gross with Kaupthing Edge (taken over by ING during the 3 year fixed term) it matures end of Sept 2011 :sad:

This was the account I was referring to. The interest isn't compounded so works out at 7.15% AER (if I remember correctly).

Ifts

atypical - Yes i think you may be right, you have pointed that out before as you have also got the 3 year fixed rate account maturing in Oct 2011

This is what the Account Summary is showing:

Balance (£): 35,000.00
Rate (Gross): 7.67%
Term: 36 Months
Tied ING Direct Savings Account: xxxxxxx
Maturity date: 26-Sep-2011
Maturity balance (£): 41,442.80
Interest accrued to date (£): 5,401.35

sabretoothtigger

They pay rates like that in India I think and since our exchange rate with them has been stable enough with them for a while its not such a bad deal. Same maybe for Australia or new zealand probably - especially if you might go on holiday there anyway.




Only USA is worse then us I think

With inflation so high and probably going to stay that way I think its just as well to get the money back this year


In 1990 a five year fix gave 10% rate.
So it can be alot higher but I would suggest trying to find something more useful to do with cash presuming rates dont go up anywhere near 10 or even 7% I wouldnt be that happy fixing at lower rates expecting inflation to be ok, it wont

Ifts

sabretoothtigger wrote: »

With inflation so high and probably going to stay that way I think its just as well to get the money back this year

I wouldn't mind leaving it there after maturity at that rate, now if only they would let you renew it for another 3 years @ 7.67 gross, somehow me don't think so!