Negative interest rates

blinko

Was reading this article the other day and something i never thought would happen could possibly, what do you think >?

https://www.theguardian.com/business/2020/may/21/what-would-negative-interest-rates-mean-for-mortgages-and-savings

ColdIron

Recently discussed, not sure we need a third thread

https://forums.moneysavingexpert.com/discussion/6142669/negative-interest-rates
https://forums.moneysavingexpert.com/discussion/6145025/negative-interest-rates

bowlhead99

You could search the forum and find these threads of multi page discussion in the last couple of weeks with the same title - not sure we need another one 

https://forums.moneysavingexpert.com/discussion/6145025/negative-interest-rates/p1
https://forums.moneysavingexpert.com/discussion/6142669/negative-interest-rates/p1
https://forums.moneysavingexpert.com/discussion/6146008/less-than-0-interest/p1
-edit - coldiron - great minds!

port_of_spain

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

MACKEM99

port_of_spain said:

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

Then a poll about which poll to use? 

margaretx9

port_of_spain said:

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

Given most instant access ISAs with the main banks and BSs are paying 0.01% you wonder if they can go any lower. You would earn the grand sum of £1 on £10,000 invested for a whole year - barely covering the price of the stamp for your application form!

Zanderman

margaretx9 said:

port_of_spain said:

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

Given most instant access ISAs with the main banks and BSs are paying 0.01% you wonder if they can go any lower. You would earn the grand sum of £1 on £10,000 invested for a whole year - barely covering the price of the stamp for your application form!

I think you're missing the point of port_of_spain's post!

margaretx9

Zanderman said:

margaretx9 said:

port_of_spain said:

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

Given most instant access ISAs with the main banks and BSs are paying 0.01% you wonder if they can go any lower. You would earn the grand sum of £1 on £10,000 invested for a whole year - barely covering the price of the stamp for your application form!

I think you're missing the point of port_of_spain's post!

Not really - this is a personal savings sub forum not a financial institutions one. I can guarantee UK banks won’t be paying mortgage customers interest on their mortgages or charging savers to hold cash with them.

Negative interest rates on government debt aren’t new - several safe havens like Switzerland have been in that state on and off for some time. 

Zanderman

margaretx9 said:

Zanderman said:

margaretx9 said:

port_of_spain said:

Perhaps we should have a poll about which is the best "Negative interest rates" thread? :-)

Given most instant access ISAs with the main banks and BSs are paying 0.01% you wonder if they can go any lower. You would earn the grand sum of £1 on £10,000 invested for a whole year - barely covering the price of the stamp for your application form!

I think you're missing the point of port_of_spain's post!

Not really - this is a personal savings sub forum not a financial institutions one. I can guarantee UK banks won’t be paying mortgage customers interest on their mortgages or charging savers to hold cash with them.

Negative interest rates on government debt aren’t new - several safe havens like Switzerland have been in that state on and off for some time. 

Yes really!
You were quoting and replying to port_of_spain's comment.
Which was making a joke based on the fact that there are now multiple threads about negative interest rates.
And suggesting we should have a poll on which is the best thread.  
Not sure I even understand your reply to mine - as I made no reference to financial institutions (and neither did port_of_spain).

Zanderman

And, for anyone actually looking to discuss neg interest rates here, again (copied from other posters above), is the list of other existing threads - where there has been some actual discussion to join in with!
https://forums.moneysavingexpert.com/discussion/6145025/negative-interest-rates/p1
https://forums.moneysavingexpert.com/discussion/6142669/negative-interest-rates/p1
https://forums.moneysavingexpert.com/discussion/6146008/less-than-0-interest/p1

metrobus

If a bank decided to start charging interest on deposited money rather than paying, there would be a mass withdrawal frenzy, and it would take only a relatively small percentage of its held deposits to be suddenly withdrawn to cripple them.