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Bank rate - interest rate increases
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Does anybody know of a website which lists those savings institutions which are good at quickly increasing their rates to savers. With yesterday's bank rate increase I may want to start moving my savings around to get the best deal, and some institutions don't pass on the full increase.
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It is best to wait until all new rates have been announced before moving your money. In view of your question I assume your savings are with one of the higher payers anyway so stick with them until you know better.
A .25% difference is only �25 per �10,000 invested, gross, so if only .15% was passed on the loss is only �10 gross. Hardly a life changing amount.
It is best to wait until all new rates have been announced before moving your money. In view of your question I assume your savings are with one of the higher payers anyway so stick with them until you know better.
A .25% difference is only �25 per �10,000 invested, gross, so if only .15% was passed on the loss is only �10 gross. Hardly a life changing amount.
Yes, I agree with you about the lost interest not being a life changing amount, but I think the more the banks are allowed to think they can get away with not passing on the full benefits to savers, they more they will take advantage of public apathy and continue to do it. If everybody moved their money from the ones who cheat and they started seeing accounts being closed or denuded, perhaps they'd start to change their policies.
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