Absolutely disgusted with interest rates - is this right?

le_loup

Ah! But have you seen the types of post? He/she seems to be someone who just needs to chat about whatever comes into their head.

innovate

There are plenty of boards on here where economic and financial news doesn't figure.

Bloomberg

Widelats wrote: »

For a Nat West saver account, i planned to put in £100 as a initial deposit - until i read their interest payable to that account would be 50p per year - !!!!!!, did i read it properly? Was it a typo i read?

Or is this a correct rate?

If this is correct, theres not a chance in hell i am giving them £100 for 50p at next xmas, especially when they would charge me a whole lot more if i borrowed £100 off them for a year.

What is correct here, the account i applied for is called Instant Saver with i think a AER of 0.5% lol.

I am afraid that interest rates are at an all time low and that the vast majority of accounts offer a paltry rate of interest. Us savers are being punished on account of those that have taken out mortgages which are too big. However I do think that at some point there will be an about turn and interest rates will rise significantly.



People who are only just managing to pay their mortgages at the moment should be very concerned. The interest rate time bomb is ticking very fast.