Thursday, Sep 17, 2009
They must need the money
NSANDI: Historic Interest Rates
Apologies if this has been covered before.
Anyone else notice that some National Savings rates (e.g. Direct ISA) have almost
doubled since their low point. The Government must have decided they still need
to compete with the banks rather than have everyone withdraw their funds (which
I had been considering).
I don't think there will be many 0.5% mortgages around when you can get 2.5%
on Savings from a Government backed organisation.
Posted by tenyearstogetmymoneyback @ 08:17 AM (690 views) Add Comment
7 Comments
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1. Pearshape said...
Been following this myself - it seems the only one without trickery about what it does - its an isa and it does what it says on the tin - the rate for me is equivlant to 4.05% as its tax free - difficult to beat that anywhere, without loads of terms and conditions
2. uncle tom said...
Simply confirms the detachment between Bank rate and market rate.
Question is, how far will this go?
The actual cost of borrowing has been creeping up, although it has had very little publicity.
I tried looking up Moneyfacts just now to see what sort of Tracker options are now available, and there are none shown..
3. mark wadsworth said...
I noticed, and for the simple reason that we got a nice letter from NS&I back in My telling us the interest rate was going up from 1% to 2%. (it was over 3% when we first started back in early 2008).
4. little professor said...
Only the Direct Isa rate has risen, the rest are still at all-time lows.
5. denzil said...
Wow, that's good. I have a wodge of cash in a Direct ISA that I'd near forgotten about and never got around to transferring. I certainly hadn't noticed the rate creep up. However, it doesn't make me feel as good as when the return was 5.30%.
6. Dave said...
Not true LP -- my income bond fell to 1% then up again to 2% after the public drew out 1000,000,000 from NS&I Income Bonds in July...
7. tenyearstogetmymoneyback said...
little professor said...Only the Direct Isa rate has risen, the rest are still at all-time lows.
The reason I noticed is that the return on Premium Bonds is also going up (from a miserley 1% to 1.5%)
I'm still going to cash the rest of mine in soon especially as they messed up on the last cash in.