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Marcus Rate Reduction
Comments
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Those private companies making profit eh?typistretired said:Banks etc are making mugs of savers the lowest personal loan I can see ( not looking to take one out) is 3.1% so that means they charge on £10,000, £310 interest per year and most of them are only paying 0.10% to savers a total of £10 per year on £10,000.00.
Why not go down the P2P route without any FSCS protection and cut out the middle man?1 -
What is the ratio of savers to borrowers on an individual/household level? If more savers than borrowers would this part explain it (apart from of course their very existence is to make a profit)?typistretired said:Banks etc are making mugs of savers the lowest personal loan I can see ( not looking to take one out) is 3.1% so that means they charge on £10,000, £310 interest per year and most of them are only paying 0.10% to savers a total of £10 per year on £10,000.00.0 -
Remember also that not all money lent is repaid!0
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Just felt like a rant at the ridiculous interest rates some banks are offering."Look after your pennies and your pounds will look after themselves"0
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