Green shoots for savers, at last?

Consumerist

Kent Reliance BS has recently laucnched a 2.01% one-year, fixed-rate ISA and now United Bank UK has launched 1.4% standard savings account, albeit restricted to one withdrawal per month. Are these tentative signs of the savings drought coming to an end or just a temporary blip, I wonder?

Blackdog

We have seen improved rates before but only available for a short time before they are pulled, Shawbrook and Close Brothers spring to mind. I would like to say it is green shoots but it is a bit early to call it.

Thrugelmir

Consumerist wrote: »

Kent Reliance BS has recently laucnched a 2.01% one-year, fixed-rate ISA and now United Bank UK has launched 1.4% standard savings account, albeit restricted to one withdrawal per month. Are these tentative signs of the savings drought coming to an end or just a temporary blip, I wonder?

With CPI inflation running at 1.9% there's no reason to get excited.

Glen_Clark

Interest rates are low because the banks are awash with taxpayers cheap money given to them by the Government - who will never raise interest rates of their own volition because they are too heavily in debt, too keen to bailout the banks with hidden subsidies like cheap money and taxpayer backed guarantees, and too addicted to rising house prices - which are one of the things they keep out of the official statistics so they can pretend inflation is only 1.9%
They try to placate critics by saying they are monitoring house prices, whilst every lever they have to control house prices remains at full throttle.

coyrls

Consumerist wrote: »

Kent Reliance BS has recently laucnched a 2.01% one-year, fixed-rate ISA and now United Bank UK has launched 1.4% standard savings account, albeit restricted to one withdrawal per month. Are these tentative signs of the savings drought coming to an end or just a temporary blip, I wonder?

I see a 2.01% one year fixed rate bond but the one year fixed rate NISA is 1.75%, the 2 year NISA rate is 2.01%.