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Moneybox cash LISA
hiraethh
Posts: 17 Forumite
I have a cash Lifetime ISA with Moneybox, which is powered by OakNorth bank. The interest rate is 0.4%, which was the reduced rate during the COVID pandemic. When I first opened my account, the interest rate was 1.4%.
I have asked them when will they increase the interest rate, but they haven’t responded.
A bit disappointed with this to be honest, because surely the interest rate should be higher that 0.4%…
A bit disappointed with this to be honest, because surely the interest rate should be higher that 0.4%…
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sounds like so many savings accounts - they are pretty hopeless, mine is in NS&I direct saver and I see that that has gone up to 0.5% still nowhere near what it could be0
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I have the same account (and problem), and am now looking at stocks & shares options, seeing as markets seem to be down and I think it may be a good time to buy in...hiraethh said:I have a cash Lifetime ISA with Moneybox, which is powered by OakNorth bank. The interest rate is 0.4%, which was the reduced rate during the COVID pandemic. When I first opened my account, the interest rate was 1.4%.I have asked them when will they increase the interest rate, but they haven’t responded.
A bit disappointed with this to be honest, because surely the interest rate should be higher that 0.4%…0 -
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Yeah, it’s so frustrating. Banks are quick enough reduce the interest rates, but won’t bring them up0
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Moneybox interest rate is daylight robbery.
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I think the rate is 0.25% not 0.4%.
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Mine is 0.4%0
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