How much interest is your savings account giving you?

Caporegime
Joined
20 Oct 2002
Posts
74,018
Location
Wish i was in a Ramen Shop Counter
Just got my annual statement for a savings account I have, I don't have much in there, a few hundred points for the rainy day and it is an emergency fund rather than anything so not paid much attention to the interest rate.

Previous years I was getting around £9 to £12 a year interest at one point. This year, i just got the statement....I did the sums and the interest rate this year....

0.0008%, yup, for every £10,000, I would get a return of £8 a year in interest.....WTF ! Not that I have £10k, but if i did, i would be better off putting it all on black.
 
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Soldato
Joined
15 Dec 2007
Posts
16,566
0.10 percent on the savings account :/

Cash ISA at 1.5%, but thats an introductory bonus, it goes down to some worthless amount after a year.
 
Associate
Joined
23 Sep 2008
Posts
2,294
Location
London
3% on my ISA, about 4% on my savings accounts. Rates at banks are getting back up there again now, you lot really should look on MSE and get the 'latest' news on saving rates
 
Associate
Joined
30 Jan 2007
Posts
898
Location
West Sussex
You seem suprised, its been like that for almost a year now. Those who saved money (a concept that seems alien to most people these days) get punished so those that live beyond thier means by borrowing money can be helped.

I understand home owners need to borrow large sums in order to buy houses, but sloppy lending criteria and the UK's obsession with home ownership means I and many others who save get screwed out of a reasonible interest rate on our savings.
 
Soldato
Joined
18 Oct 2002
Posts
6,223
Location
Newcastle Under Lyme
I got stung this year, not realising the terms of my ISA had changed, so I got about a fivers worth of interest over the entire year. Got no-one to moan at but myself I suppose, but gutted none the less. :(
 
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