Nationwide Loyalty Saver 0.3% rate drop

2010

DAK if the NW, Flexclusive Saver Issue 6 currently paying 1.2% is also going down on 1/4/15.
I see Issue 7 is available now with the rate down to .90%.

C_Mababejive

2010 wrote: »

The best complaint and the easiest is to move your money elsewhere.
All the banks /BS felt the effect the two £10k NS&I offers had.
While the government keep offering the FLS and inflation keeps falling the banks/BS will keep chopping no matter how much notice is given.

Indeed,,i have just chopped £20k from one of my NW accounts and i shall chop some more soon..

planteria

down to 1.2%:(.. not sure where best for any spare cash now beyond Current Accounts now.

ColdIron

Got any old Lloyds Vantages or TSB Enhances at 1.5% you can resurrect?

C_Mababejive

planteria wrote: »

down to 1.2%:(.. not sure where best for any spare cash now beyond Current Accounts now.

Corporate bond fund or etf..

planteria

well, yes, am already investing regularly as it is. just quite like using one of my building society accounts to put spare cash into.. used Yorkshire for a while, but then when they came out with Loyalty Saver started to use Nationwide instead.

Totton

Unfortunately these very low interest rates are causing people to take much higher risk with their money, e.g. bond funds or other investments. For so long as the banks/bsocs can get money cheap then they will naturally offer low interest rates, it's a simple case of supply and demand. Taking our money elsewhere will have little effect until the situation changes, only then will the saver be stronger, for now it is the borrowers profiting - swings & roundabouts but the damage in my experience is that I am losing any sense of loyalty to these banks.

le_loup

Whilst agreeing with your sentiments, I don't believe we should feel any loyalty to any company. I believe they are, in the main, trying to screw us.


Be it banks who try to sell us worthless insurance to supermarkets telling us that they have halved the price of Aussie plonk.


To insurance companies who consider it fair game to overcharge old ladies who have insured their houses with the same company for 20 years to CEOs who really think they are the only people in their organisations who make a difference and are thus worth 100 time the average wage.


Use those companies that you have to and are convenient to you but never, ever, offer them your loyalty.


Rant over.

Mr_Prudent

Looks as if Zopa have had treasury conformation that p2p will be included in tax free interest earnings (up to £1000) come April 2016.Think a good chunk of my Nationwide savings will be heading this way. Already going to test the waters with a small investment soon. :think:

2010

le_loup wrote: »

Use those companies that you have to and are convenient to you but never, ever, offer them your loyalty.
Rant over.

You`ve finally agreed with what I`ve been saying for years.

Vote with your feet.