0.25% Interest!

[Tilly2]

I had a letter from LLoyds bank today telling me that my Cash ISA was 'changing'. The 'change' is a drop from 0.50% to 0.25%! What...........?

I'm off to another provider. Post Office or Sainsburys. Probably Sainsburys having looked at Money Supermarket.

More hassle!

[furrypusscat]

1.5 Coventry Easy Access.

[tonyav]

I should be getting a letter soon from HSBC telling me how crap their ISA interest rate is going to be, Yilly !.

[Davemano]

Post Office Growth Bonds are for one, two or three years with interest 1.92%, 2.01% and 2.10%. I've recently taken out two. They may be of interest to you.

[tonyav]

They may be of interest to you.


Very good, Davemano. They certainly are to me.

[Davemano]

Tony - Did mine with PO application and a cheque via post. May take a few days, but it was the best that suited me.

[tonyav]

I will look into it when I have the letter from HSBC, Davemano.

[Davemano]

ok

[DaisyNonna]

I've given up trying to understand
Had a letter saying mine was going from .2 to .25

[tonyav]

Ohhh so you've had a rise then, Daisy.

[Old_Geezer]

I had a Nationwide one until very recently that was paying the same. I think it was the previous year also. Got around to closing it recently. It's the way everyone thinks that the theft of savers' legitimate return from hiring their money out, is the acceptable way to boost the economy.

Best of luck finding a return that is better than "laughable". Most are "disgusting" and some are "atrocious". You just have to look at the account folk are actually recommending here ! You have to keep telling yourself it's better than nothing, and you don't mind being ripped off.

[Davemano]

OG - how are you getting ripped off if you choose what suits you best. Can you offer any useful suggestions or do you invest in BUMS - Bedroom Under Mattress Springs.

[jennyjoan]

I transferred my ISA with Santander (can't remember Tilly how I done it) but moved to 123 Current Account Santander and I am getting very good interest - compared to ISA 0.5% whereas if you have enough income you nearly get 2-3% - comes in every month.

[hc4361]

I'm with Santander 123 current account for 3% up to £20k + cashback and TSB for 5% up to £2k + 5% cashback + good interest rate for regular saver.

[Old_Geezer]

How can you not be being ripped off when no one offers a decent rate of return for you to select ? Do you think a hire shop would survive on 0.25% pa on the goods they hire out ?

Unless you find something you can purchase that appreciates better than inflation you are at the mercy of those who wish to abuse your need for a decent investment and who set the rate accordingly.

[Davemano]

Santander 123 is good but probably won't suit everybody as it requires at least £500 coming in each month together with at least two direct debits. The direct debits give a cash back, but the account is subject to a £2 monthly administration fee, and I have just had a letter saying this fee will be increased to £5 on 16th January. This virtually wipes out the cash back and eats into the 2 to 3% interest.

[hc4361]

I agree with OG. When I had a mortgage interest rates were very high - I was paying over 12% at one point. Now I have money to save the rates are very low.

[Old_Geezer]

Worse when your life has changed and you are trying to live off savings.

[Davemano]

OG I was not talking about a 0.25% interest, but you fail to offer any suggestions better than the 1.5% to 2% shown by posters on this thread. The question was raised because the OP wanted a better rate than 0.25% which everybody agrees is awful and the reason for higher rate suggestions.

[Peter Pedant]

Find somewhere to put your money

almost all ISAs have a rate of interest for that tx year and then offer diddly squat after

so you have to transfer your ISA and use up your cash ISA qota for that year in shunting the same sum around

Why werent there more bankers at Bataclan ? then at least we could celebrate ....

[Mamyalynne]

I find that comment wholly inappropriate Peter.