TSB - Interest Rates on Plus Account now at 0%

[Slam62]

Versus regular saving yeah, but versus investments in a S&S ISA it's a bit closer.

Unfortunately I have very rarely experienced first hand any decent growth in stocks and share, although lots of people say they do. As I am nearing retirement I need secure money now, so can't afford to gamble.

The way the savings and investment area of the economy has been handled recently has just ended up digging deeper and deeper holes. They seem to think it will all come right at some point.

 

[Basher]

Unfortunately I have very rarely experienced first hand any decent growth in stocks and share, although lots of people say they do. As I am nearing retirement I need secure money now, so can't afford to gamble.

The way the savings and investment area of the economy has been handled recently has just ended up digging deeper and deeper holes. They seem to think it will all come right at some point.

Oh I agree - if you can't invest in the long term then it probably won't work out.

Invested in a tracker fund though - over 5+ years you're normally pretty safe. I certainly wouldn't be getting into trading of individual stocks/shares.

 

[Diddums]

 

[nemofoot]

30 years my mum and dad used to put some of their salary into a savings account and the interest used to pay for their summer holiday. some chance of that today. there was talk of a big increase in inflation coming and gov wants to accommodate it to make it easier to pay off the enormous debt theyve taken on.

 

[Barks]

Best thing you can do to middle finger the BOE is to invest your savings in assets. The fact they are even contemplating ZIRP is unbelievable.

It's like treating someone with a drug problem with more hits, more heroin, more heroin again etc. The retreat to normal health becomes increasingly unlikely and eventually there are tears.

 

[LeeUK]

Is this 0% TSB account a savings account or a current account? If it's the latter than that isn't news, loads of current accounts pay zero interest.

 

[[FnG]magnolia]

You're missing the much larger point here.

 

[MissChief]

Is this 0% TSB account a savings account or a current account? If it's the latter than that isn't news, loads of current accounts pay zero interest.

Many people changed to TSB because they gave interest on their current account.

 

[DireEmblem]

Hargreaves are now offering interest accounts, at reasonable rates by todays standards

 

[Iron Man]

At least it’s not negative interest.

 

[Minusorange]

I just got an offer from Nationwide fixed interest at 0.5% for 18 months, where you can't touch the money for the 18months otherwise you kill the offer, doesn't sound like a good deal but I guess it's good considering the times we're in

Certainly not an enticing time to be saving money, better to put the money into assets

 

[DireEmblem]

You can certainly get better than 0.5% for 18 months, although the liquidity in the cash markets seems to be dwindling right now.