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geoffk

What Rate Are You Getting For Your Savings?

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I moved money out of Nationwide's e-saver account where it was getting 0.5% to Nationwide's Champion Saver - passbook, branch based account - which pays the average of the 5 best paying comparable accounts. About 2.7% at the moment. 60 days Notice as far as I remember.

Why do Nationwide offer 0.5% on an internet based account and 2.7% on a branch based account. They are f u c k i n g mad.

I've still got a bit left in my esaver I think - will move it to this one. Will enjoy harrassing staff.

Or i might withdraw it and do my bit for the economy and buy something.

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Wouldn't dare lock in for 5 years. Currently taking 3% or so for 2 yr fixed\rate

Likewise - would prefer to take a hit now in the hope of higher rates later. 5% is not great in historical terms

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I moved money out of Nationwide's e-saver account where it was getting 0.5% to Nationwide's Champion Saver - passbook, branch based account - which pays the average of the 5 best paying comparable accounts. About 2.7% at the moment. 60 days Notice as far as I remember.

Why do Nationwide offer 0.5% on an internet based account and 2.7% on a branch based account. They are f u c k i n g mad.

Yes, that is w*nk. I might look into the that branch account.

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Savings? Don't make me laugh....................

I used to save until about 12 months ago when I realised what a complete an utter fool I had been.

All the rates you have disclosed are gross of course. The 40%'ers of you are getting screwed already.

(not-so) Premium bonds - 1mnth access, only need a few small hits a yr to beat the banks.

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Citibank flexible saver (12 month bonus rate), opened in Sept 2009, 3.3%. Reduced to 3.0% in May 2010.

West Brom BS branch bonus saver (extra 1.0% until 31/08/10) , opened in Oct 2009, 3.75%. Reduced to 3.4% on 1st Feb 2010.

See a trend there?

Northern Rock 13 month bond at 3.7%. Matures 1/11/10.

Setanta Cash ISA - 3.2% (base + 2.7%) til April 2011.

Halifax 12 month regular saver - 5.0%. £500 p.m. Ends in August 2010.

BoE base rate has been held down for so long, all savings rates seem poor now.

I'm tempted to have the Halifax saver, 2.8% (normally 2.6% but at extra 0.2% if you bank there) but only 1 withdrawal per year permitted without loss of interest.

The Indian ICICI bank offering 3.7% for a 2 year bond is a possibility for me, if it still exists when all the a/c above mature over the next few months. At least the reversionary rates aren't the insulting 0.5% or lower some other a/c have so no immediate rush.

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When closing an account and transferring the balance to my current account in preparation to reinvestment I am always asked why I am moving elsewhere. I always reply that I am moving into physical gold as I am no longer prepared to lend to banks for a below inflation return and such a high risk of default.

Try it its most entertaining.

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My current "cash" rates:

60k @ 2.59% variable in my First Direct off-set mortgage (mortgage is for 65% LTV - current debt to bank of just 20k)

20k in NS&I RPI+1% bonds - opened in June 2010 (phew) for 10k in both 3 and 5 year.

20k in ZOPA running at 12% net.

6k in a Principality ISA - previously on at 6.25% - being transferred to my S&S ISA when I find my passbook and post it to them.

around 12k in a Stock Option scheme at work - currently the share price is about 15% less than the option price :(

That's the split.

The offset mortgage is fantastic if you are like me and have a lot of surplus cash at the end of every month.

I've also got a barrel of whisky as an investment B) well not really - I just want something for when I'm 40 years old that you can't just go out and buy when you have a midlife crisis - a Porsche or a Powerboat or a new weife are easy to buy - your own 12 year old single malt?

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Perfect example.

Well done for being so prudent btw.

However, your rates are gross so a 40% tax payer's best deal is 3% net? Remind me what is RPI right now?

My main savings are in the ISAs, especially the 5% one. Personally I'm paying 20% tax. The "rewards" are £5 per month after 20% tax (i.e. £6.20). Considering my personal CPI my savings are coming out on top by a little bit. E.g. I don't have a car and have no interest in one as I live in a city, have had a fixed rate gas/elec tariff for 2 years, etc etc

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  • 225 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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