Intrest question?

Driving_Soon

Ok, In advance, this may sound a little dumb, and probally a really simple answer to the question .. it's just i don't know it

I have a Barclays easy saver savings account, Last month i had £7429.48, and got intrest off £16.12!

This month on the 12th I put another £1000.00 into the account, then on the 30th I put another £900! ( I know the last one would probally be too late to get intrest on this month but anyway .. )

My intrest has been paid into my account this month, and I only got £15.59!

Surley I would get more, as i have added to my account? not less!

YorkshireBoy

According to http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=popup1group&value=14439&target=_blank&site=pfs your interest rate was cut on 1/5/08.

As if 3.01% AER wasn't bad enough, you're now getting only 2.75% AER.

Move your money!!!!!

Oblivion

YorkshireBoy wrote: »

According to http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=popup1group&value=14439&target=_blank&site=pfs your interest rate was cut on 1/5/08.

As if 3.01% AER wasn't bad enough, you're now getting only 2.75% AER.

Move your money!!!!!

Absolutely. To the OP, there's more to this savings lark than just opening an account and sticking money in it from time to time. You need to visit their website frequently and check to see whether the interest rate has changed for the worse. The major banks seem to be the worst at playing this cynical game. Try to find a new provider who can offer a decent guarantee on their interest rate.

Dave.

Driving_Soon

Oblivion wrote: »

Absolutely. To the OP, there's more to this savings lark than just opening an account and sticking money in it from time to time. You need to visit their website frequently and check to see whether the interest rate has changed for the worse. The major banks seem to be the worst at playing this cynical game. Try to find a new provider who can offer a decent guarantee on their interest rate.

Dave.

Oh man!

If I'm honest, I did not even look around .. It's just I bank with Barclays so i just thought it would be easier to just stick it in there, but your right i got quite angry when i found out they had cut it! :mad: :mad: :mad:

Anyone know of any good saving accounts I could stick it?

Oblivion

Driving_Soon wrote: »

Oh man!

If I'm honest, I did not even look around .. It's just I bank with Barclays so i just thought it would be easier to just stick it in there, but your right i got quite angry when i found out they had cut it! :mad: :mad: :mad:

Anyone know of any good saving accounts I could stick it?

Well, rather than make any specific recommendations, I suggest you have a look at this savings guide page on this very website. There's a lot of useful guidance there as well as some of the top payers mentioned.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

If you are a tax payer, you should think about taking out an ISA which gives you tax-free interest, and you can deposit up to £3,600 cash in any tax year. Otherwise, look for a building society or bank that is offering a good interest rate, but backed up by a decent guarantee that it will not fall below a certain percentage above bank base rate until a specified date. That way you just need to keep a note of when the guarantee expires before you possibly have to go searching again for a better deal.

Dave.

aleph_0

Driving_Soon wrote: »

Oh man!

If I'm honest, I did not even look around .. It's just I bank with Barclays so i just thought it would be easier to just stick it in there, but your right i got quite angry when i found out they had cut it! :mad: :mad: :mad:

Anyone know of any good saving accounts I could stick it?

http://www.moneysavingexpert.com/savings/which-saving-account
http://www.moneysavingexpert.com/savings/best-cash-isa
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest