Do or don't banks want our cash?

Thrugelmir

C_Mababejive wrote: »

The ordinary people on the street are just sheep for shearing. The nice person at the bank may smile but really,they have a secret agenda to screw you over. The country is awash with money. Banks and building societies have plenty of it. The government gave them lots and apathetic savers continue to trust them with their money. If there is any need for more money,why the government will just print some IOUs.

UK is awash with debt after an extended credit boom. As banks deleverage (fractional reverse banking in reverse). BOE has pumped money into system to maintain liquidity in order to keep banks operational. Appears that we weren't as rich as we thought we were. As the balloon is now deflating.

JethroUK

Reaper wrote: »

They can't get all their money from the government, but it has taken all the urgency away. If people are willing to lend them their money for such paltry rates then I am sure it is worth spending a bit on advertising.

Personally all my fixed term lump sum savings are earning between 4 and 5%, and my regular savings 6% and 8%. When they finally expire I will be investing my money rather than saving it at below inflation rates.

where are you getting 6-8%

I have some earning 9% ish with first direct but I have Maxxed it out and I have too much in my current account not earning anything so any wacky saving scheme I would be interested tia

Rawls4mayor

It is increasingly difficult to find attractive rates. I am considering investing in wine, does anyone have any experience of this?

Reaper

JethroUK wrote: »

where are you getting 6-8%

My First Direct pays 8% and Nationwide Flexclusive Regular Saver pays 6% though neither are accepting new business now.