Discussion
Rates on everything apart from Junior ISA and premium bonds dropping to effectively zero!
https://www.nsandi.com/interest-rates
https://www.nsandi.com/interest-rates
NickCQ said:
It was good while it lasted!
Would be interesting to see how much they have raised over the last few months and whether they were getting pressure from high street banks to reduce rates given how far above market they were.
Rates like that basically say "we're not interested in your savings". High St banks can do that because they have plenty of other ways to make money. NS&I don't, which is why this is bizarre.Would be interesting to see how much they have raised over the last few months and whether they were getting pressure from high street banks to reduce rates given how far above market they were.
NS&I have always competed with Building Socs on savings rates. Time to look at rates from those again....
Absolutely stinks of desperation by a failing government making a last ditch attempt to get money back into the economy. Sorry Boris, no dice.
I, like most in here I'm sure, have always been prudent and not spent beyond my means. Avoiding debt in favour of tucking some spare money aside for a rainy day by living a comfortable yet not extravagant lifestyle.
More fool us! What an absolute shambles.
I, like most in here I'm sure, have always been prudent and not spent beyond my means. Avoiding debt in favour of tucking some spare money aside for a rainy day by living a comfortable yet not extravagant lifestyle.
More fool us! What an absolute shambles.
condor said:
Was only a couple of months ago the Government wanted to raise £35billion from savers cash. What happened to change that plan?
I've also moved money into their income bonds this month.
From what I read in the announcement it looks like they’ve already raised that. Therefore they now want to turn off the taps, hence the (large) drop in rates.I've also moved money into their income bonds this month.
vonuber said:
This is not worth having any more at all, is it?
You are right, although it essentially just completes what's been going on since 2008. Rates have been negative real (i.e. after inflation) since that time).Over the years I have from time to time posted on this forum that IMO these government and central bank policies have been destroying the value of money. The job has now been completed. I think it's madness.
Sargeant Orange said:
Absolutely stinks of desperation by a failing government making a last ditch attempt to get money back into the economy. Sorry Boris, no dice.
I, like most in here I'm sure, have always been prudent and not spent beyond my means. Avoiding debt in favour of tucking some spare money aside for a rainy day by living a comfortable yet not extravagant lifestyle.
More fool us! What an absolute shambles.
Agreed. I, like most in here I'm sure, have always been prudent and not spent beyond my means. Avoiding debt in favour of tucking some spare money aside for a rainy day by living a comfortable yet not extravagant lifestyle.
More fool us! What an absolute shambles.
I'm actually going to leave my max holding in Premium Bonds just to stick two fingers up at them and show them I'm not going to become the feckless spendthrift, spaffing money away into a failed economy and buying unnecessary s
t or investing into the biggest debt fuelled asset price bubble the world has ever seen that they're trying so desperately hard to force me to do.Edited by mike74 on Tuesday 22 September 08:10
Gassing Station | Finance | Top of Page | What's New | My Stuff