Bank Interest Rates

[Doon frae Troon]

Looks like the best my bank can do on my ISA is 0.05%.
A ha'penny per £100.

Looks like more trouble looming.
I think charges on basic accounts is coming to a bank near you.

 

[stevie_r]

We already pay a fee for our current account, we get a range of benefits which, if you take advantage of them, more than covers the monthly cost.

 

[Stuey01]

Looks like the best my bank can do on my ISA is 0.05%.
A ha'penny per £100.

Looks like more trouble looming.
I think charges on basic accounts is coming to a bank near you.

Thats 5p per £100...

Still rubbish, you can do better elsewhere.

 

[Doon frae Troon]

I threatened to put the lot into Premium Bonds but I suppose they will drop the % soon.
My holding in them seems to have outperformed everything else.

Stuey, you would not believe my daughters an accountant. % always was my weakness!!!!
I can do better with the bank but as we are both taxpayers it would not be tax free.
All the other 'bonus's' etc generally involve use of CC and I can't be bothered with all that flaffing about.
Never had an overdraft or loan [apart from mortgage and some early cars] in my life.
It is a bad time to be a saver.

 

[Stuey01]

You can get at least 1% elsewhere on a cash ISA, so tax free up to your ISA allowance. My bank is offering that, I won't say who as I also work for them. Easy enough to shop around on the internet though.

 

[Region3]

I was looking for the best interest rate on savings a few months ago (not a massive amount) and ended up with a Santander current account - the one that McIlroy advertises.... badly.

3% up to £20k. Even after allowing for the tax you lose it was way better than anything else I could find, all of which were only introductory rates that disappeared after a year.
It costs £2 per month, but with the interest plus cashback on household bills paid through it you more than make it back.

 

[SwingsitlikeHogan]

I threatened to put the lot into Premium Bonds but I suppose they will drop the % soon.
My holding in them seems to have outperformed everything else.

Stuey, you would not believe my daughters an accountant. % always was my weakness!!!!
I can do better with the bank but as we are both taxpayers it would not be tax free.
All the other 'bonus's' etc generally involve use of CC and I can't be bothered with all that flaffing about.
Never had an overdraft or loan [apart from mortgage and some early cars] in my life.
It is a bad time to be a saver.

Not sure about Premium Bonds - but only as my parent bought us maybe £15 worth of PBs back in the 1960s. A lot of money back then when his weekly wage was maybe £10. We never won a penny - and when he died 10yrs ago my mother cashed them in - for £15 of course.

 

[mikee247]

Have a look at Martin Money saving expert. Good independent suggestions on there. I took out two ISA's last tax year for me and HID and got 3% with a 60 day notice with the Coventry. If you dont need it quickly there are half decent rates out there so search around and always move your money the following year if it drops. Its a bit of a hassle but after a while it becomes quite satisfying!!

 

[Captainron]

If you have any book based savings accounts you will not get a good rate of interest at all. Books need to be operated in branch and that costs money so rates will be the lowest on offer. Card or internet based accounts will pay more interest because you can do some of the legwork yourself.

Who is your ISA with?

 

[Doon frae Troon]

Santander.
Thinking of moving to Nationwide.
Another £100 premium bond bonus this month.
I have never gone for more that 3 months without a 'win'. Generally dribs and drabs from £25 to £150.
I took out a £12k holding in in 2002 and it is now approaching £16k. Tax free.
Mind you I did 'win' £1000 in the first month.

My friend has a max holding {£30k} and has done very well.