FYI ~ Cynergy 1.60%

VKE

Cynergy are now offering 1.60)%, includes 0.15% bonus, 1.45% standard

dosh37

So the BoE raises interest rates by 0.5% and Cynergy passes on a measly 0.14% to savers.

Meanwhile inflation hits 9.4%.

dosh37

Savers should be getting at least 2% now. We have been suffering from low interest rates for years.

I remember the days when savings rates were around 6%.

grumiofoundation

dosh37 said:

Savers should be getting at least 2% now. We have been suffering from low interest rates for years.

I remember the days when savings rates were around 6%.

You can get well over 2% on one year fix, over 2% with notice accounts and over 3% on 2 year fix 

MX5huggy

dosh37 said:

Savers should be getting at least 2% now. We have been suffering from low interest rates for years.

I remember the days when savings rates were around 6%.

And what was the base rate at that time? 

dosh37

grumiofoundation said:

dosh37 said:

Savers should be getting at least 2% now. We have been suffering from low interest rates for years.

I remember the days when savings rates were around 6%.

You can get well over 2% on one year fix, over 2% with notice accounts and over 3% on 2 year fix 

It would be foolish to tie into a fixed rate now when interest rates are increasing.

dosh37

MX5huggy said:

dosh37 said:

Savers should be getting at least 2% now. We have been suffering from low interest rates for years.

I remember the days when savings rates were around 6%.

And what was the base rate at that time? 

According to figures I have seen, In 2008, the base rate dropped from around 5.25% early in the year to 2%. Average savings rates were about 5% for the year.

I'm no economist but at the moment it seems there is too much cash floating around in savings accounts that no one wants.