Whatever happened to the interest on savings accounts?

[itboffin]

How many bricks can i buy for £1000?

Seriously though... I'm just looking at somewhere to stash a couple of grand because that's how much I'll need when I have to move to a new flat/house; month's rent in advance, the same amount again for the deposit, the cost of moving, agent's fees etc. So I'll want to get my hand on it at shortish (4 weeks) notice.

If you have a mortgage chances are your interest rate will be around 2% so put what savings you have in the mortgage almost all banks I know of in the uk let you take it back out whenever you want, I did this with my fecking useless isa years ago I only wish I could do the same with my pensions.

 

[itboffin]

I’m going to invest my tiny amount of spare cash in bikes to go with the MASSHOOF amount I’ve already spent on bikes

 

[Juan Kog]

I already have titanium 😁

Why stop at one, a second would be a very sound investment.

 

[MontyVeda]

If you have a mortgage chances are your interest rate will be around 2% so put what savings you have in the mortgage almost all banks I know of in the uk let you take it back out whenever you want, I did this with my fecking useless isa years ago I only wish I could do the same with my pensions.

putting money aside to cover moving costs such as 1st months rent and a deposit strongly suggests that I don't have a mortgage

 

[MntnMan62]

Back in the 90s i had a savings account which gave 5 or 6% interest, but I had to give 60 days notice if i wanted to make a withdrawal... I've recently been looking for a similar savings account but the interest is barely above 1%... which is sh!te in comparison.

Why? Where, and when did the interest go?

Really? Have you not paid attention to interest rates in general? They are at historical lows. Why should banks pay you a healthy interest rate when they can't charge such a healthy interest rate on loans? I'm scratching my head at your question.

 

[MontyVeda]

Really? Have you not paid attention to interest rates in general? They are at historical lows. Why should banks pay you a healthy interest rate when they can't charge such a healthy interest rate on loans? I'm scratching my head at your question.

some of us have had better things to do in the last three decades than look at interest rates

 

[MntnMan62]

some of us have had better things to do in the last three decades than look at interest rates

Really? I've been investing my hard earned money for the past three decades so that at some point I can live off that money without having to work. Anyone who has money to invest pays attention to interest rates. Someone who makes fun of people for paying attention to interest rates must not have money to invest of their own. But that's ok. I'm sure you still feel real good about chastizing someone for being aware of where interest rates are. That says all I need to know about you.

P.S. I'm also a short tempered ill controlled small minded troll.

 

[MontyVeda]

Really? I've been investing my hard earned money for the past three decades so that at some point I can live off that money without having to work. Anyone who has money to invest pays attention to interest rates. Someone who makes fun of people for paying attention to interest rates must not have money to invest of their own. But that's ok. I'm sure you still feel real good about chastizing someone for being aware of where interest rates are. That says all I need to know about you.

P.S. I'm also a short tempered ill controlled small minded troll.

You're also a rather patronising individual.

Bye!

 

[Tenacious Sloth]

putting money aside to cover moving costs such as 1st months rent and a deposit strongly suggests that I don't have a mortgage

Serious question. It seems that more and more people are having to rent nowadays and with the diminishing number of council houses private rents often seem as much as, or often more than, the cost of a mortgage. How do renters manage to pay their rent when they retire?

 

[byegad]

Back in the 90s i had a savings account which gave 5 or 6% interest, but I had to give 60 days notice if i wanted to make a withdrawal... I've recently been looking for a similar savings account but the interest is barely above 1%... which is sh!te in comparison.

Why? Where, and when did the interest go?

2008. The ruddy* bankers stuffed the economy and people who had savings have seen pathetic interest since.

*I had a better word but decency and all that.

 

[MontyVeda]

Serious question. It seems that more and more people are having to rent nowadays and with the diminishing number of council houses private rents often seem as much as, or often more than, the cost of a mortgage. How do renters manage to pay their rent when they retire?

if there's anything left of the welfare state when I'm 67... I'll be looking towards that most likely.

 

[MntnMan62]

You're also a rather patronising individual.

Bye!

I'm going to assume that you put me on ignore. I'm ok with that. But on the chance that you haven't put me on ignore, I'll just point out that it was YOU who started with the patronizing idiocy, saying that you have better things to do than pay attention to interest rates for the past three decades. Your comment demanded an equal response. So, it seems that you are able to dish it out but you can't take it when it's tossed back your way. I guess that means that it's you who is the patronizing individual.

Bye!

 

[ColinJ]

How do renters manage to pay their rent when they retire?

In the UK - Housing Benefit!

My pension income will be so low that I will (at current rates) get about 85% of my rent paid. Obviously, rents can go up, and benefits can be reduced.

 

[screenman]

I think you might find an African prince somewhere who may give you a good return on your investment, I know some used to write to me but I was too busy making money.

 

[screenman]

In the UK - Housing Benefit!

My pension income will be so low that I will (at current rates) get about 85% of my rent paid. Obviously, rents can go up, and benefits can be reduced.

You best hope your games come to market.