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Savings Five Year Fixes Maturing

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http://www.telegraph.co.uk/finance/personalfinance/pensions/10457090/Camerons-broken-promise-to-savers-costs-68bn.html

It seems over the next few months the last five year fixed rate savings bonds mature north of 6% gross. Once these mature our banks and building societies will be rid of their high yielding savers and these savers will see their income fall by 66%

I wondered back in February 2009, when rates fell heavily what the outcome would be in five years well now we know

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http://www.telegraph.co.uk/finance/personalfinance/pensions/10457090/Camerons-broken-promise-to-savers-costs-68bn.html

It seems over the next few months the last five year fixed rate savings bonds mature north of 6% gross. Once these mature our banks and building societies will be rid of their high yielding savers and these savers will see their income fall by 66%

I wondered back in February 2009, when rates fell heavily what the outcome would be in five years well now we know

http://www.telegraph.co.uk/finance/personalfinance/savings/4127260/Tories-offer-18-million-savers-4.1-billion-help.html

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I agree with the BofE cutting interest rates (which goes against what most HPC's think)

However I would have nothing against small savers with less than £200,000 getiting say 5%

My problem would be the 1% getting assess to that rate it would just make the divide even bigger.

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http://www.telegraph.co.uk/finance/personalfinance/savings/5989891/Rate-alert-five-year-fixed-rate-bonds.html

http://www.theguardian.com/money/2009/nov/01/national-savings-investiments-growth-bond

I bet some of the last three, four and five year bonds mature in the next twelve months, those bonds paying better rates than can be achieved today. This must have an effect on lending rates, and profits...

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http://www.telegraph.co.uk/finance/personalfinance/savings/5989891/Rate-alert-five-year-fixed-rate-bonds.html

http://www.theguardian.com/money/2009/nov/01/national-savings-investiments-growth-bond

I bet some of the last three, four and five year bonds mature in the next twelve months, those bonds paying better rates than can be achieved today. This must have an effect on lending rates, and profits...

Mercifully, our NS&I 3.9% five year growth bonds don't mature until early 2016.

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What alternatives will these savers look at I wonder...?

I'm sure many will go for options involving a B, a T and an L.

What, use your own money to buy a house..don't be daft, it will go into the stock market ( and probably has been ).

I do believe we are about to see a very BLACK day within the next 3 months

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I agree with the BofE cutting interest rates (which goes against what most HPC's think)

However I would have nothing against small savers with less than £200,000 getiting say 5%

My problem would be the 1% getting assess to that rate it would just make the divide even bigger.

The 1% typically don't save money - they borrow it at next to no interest and punt it into stuff like commodities to take advantage of the resulting price inflation. An option not available to anyone else who faces interest rates many times higher.

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