Marcus Rate Reduction

ChopperST

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.

Those private companies making profit eh?
Why not go down the P2P route without any FSCS protection and cut out the middle man?

Hopingforthesimplelife

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.

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)?

1882

Remember also that not all money lent is repaid!

typistretired

Just felt like a rant at the ridiculous interest rates some banks are offering.