What realistic choice as savers, except for keep switching where we store our money, do we have to force the banks and building societies to give us more interest on our money?
I mean, look: The current Bank of England interest rate: 5%
Highest possible guaranteed savings account (ISA) interest: 5.46%
Whoopedoo! a whopping 0.46% gain in real terms on our money.
That is exceptionally stingy given the amount of money the citizens of this
country give to the banks / building societies and I damn well think its
time that they started to be more generous given their incredible
record-breaking profit margins. Spread the wealth so we can all be a little
bit more comfortable.
I, for one will make sure that 2007 will mark the start of my campaign to
ditch all but the least stingiest banks / building societies to ensure the
stingiest will no longer get my money.
Perhaps we should organise on this newsgroup a weekly round-up of the best
paying ISA/Savings accounts so we can all acknowledge the least stingy of
all of the financial institutions and we can steer clear of the miserliest.
Today's current best for non-postal, min. balance 1, instant access cash
Today's best non-postal, min. balance 1, instant access savings accounts
with no tie-in bonus crap: Sainsbury's: 5.25%
Bear in mind that both of these are incredibly stingy as in real terms, the
Halifax ISA only gives you a 0.25% real term increase in the value of your
cash whilst even more preposterously, the best savings account actually
loses you money in real terms (unless you are not a tax payer)!
Let's make 2007 a more profitable one for all of us - with the ease of
online applications - there's now no longer the feeling of it all being a
load of hassle - ditch your stingy bank / building society today and
together we'll force them to share their wealth little by little.
To compare the best accounts at any one time these are my favourites and I'm
sure there's others:
...and remember - the best hope you have of getting more interest is by
paying more money in!
- posted 13 years ago