Paragon 120 day Notice Issue 10 - rate cut

schiff

Cut from 1.05% to 0.75% wef 19 May 2021.

ratechaser

Not their only cut today, I've got a legacy instant saver going from 0.75% to 0.5%. From the 19th January!

First world problems I know, but I really need to do something with all this cash...

where_are_we

ratechaser said:

Not their only cut today, I've got a legacy instant saver going from 0.75% to 0.5%. From the 19th January!

First world problems I know, but I really need to do something with all this cash...

1% regular savers, especially the fixed ones, don`t look so bad now! The worry is, that lots of savers will move their cash into the stockmarket. This is a high risk strategy if you might need the money quickly and do not have sufficient cash reserves.

ratechaser

where_are_we said:

ratechaser said:

Not their only cut today, I've got a legacy instant saver going from 0.75% to 0.5%. From the 19th January!

First world problems I know, but I really need to do something with all this cash...

1% regular savers, especially the fixed ones, don`t look so bad now! The worry is, that lots of savers will move their cash into the stockmarket. This is a high risk strategy if you might need the money quickly and do not have sufficient cash reserves.

I'll leave the 1% RSs to anyone with the time and inclination to play that game. Not going to make a dent in our current cash reserves unfortunately. So yes we are going to go more down the S&S route - Vanguard being the obvious home.

I shouldn't complain, Mrs RC and I have remained fully employed through the disasters of the last year, but all the usual things we'd spend on (holidays, meals, commuting, clothes) have been unnecessary or unavailable - good for saving, not so good finding a suitable home for it all!