negative interest rates

Money, investing, mutuals etc
Chadwick
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Re: negative interest rates

Post by Chadwick » Fri Jun 11 2021 10:50am

parchedpeas wrote:
Wed Jun 09 2021 9:05am
One I hadn't heard of before:
1.75% on £250 a month for 14 months. Opened in second online:

https://uk.virginmoney.com/savings/prod ... lar_saver/
Virgin Money wrote:This account is only available to users of the Virgin Money Home Buying Coach app.
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parchedpeas
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Re: negative interest rates

Post by parchedpeas » Fri Jun 11 2021 12:30pm

The app is not required to operate the account and no checks are done when you register.

It's not compatible with a ton of Android phones, either.
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tonyg
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Re: negative interest rates

Post by tonyg » Wed Jun 16 2021 9:46am

parchedpeas wrote:
Wed Jun 09 2021 9:05am
One I hadn't heard of before:
1.75% on £250 a month for 14 months. Opened in second online:

https://uk.virginmoney.com/savings/prod ... lar_saver/
Finally got this account up and running due to not having a 7 digit Customer ID on my virgin account so opened a new account but made error on application. :roll:
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Sarah
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Re: negative interest rates

Post by Sarah » Thu Dec 02 2021 10:34am

Regular Saver accounts making a minor comeback...

Cambridge BS paying 3% for 1 year members, 5% for 3 year members:
https://www.cambridgebs.co.uk/savings/r ... ular-saver
https://www.cambridgebs.co.uk/savings/r ... ular-saver

Nationwide & TSB paying 2%
https://www.nationwide.co.uk/savings/fl ... lar-saver/
https://www.tsb.co.uk/savings/monthly-saver/

Natwest/RBS paying 3% but max just £50/month and only on the first £1000
https://www.natwest.com/savings/digital ... saver.html
https://www.rbs.co.uk/savings/digital-r ... saver.html
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Sarah
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Re: negative interest rates

Post by Sarah » Thu Dec 16 2021 11:51pm

BoE base rate increased to 0.25% in response to calls to tackle surging price rises:
https://www.bbc.co.uk/news/business-59682521
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planteria
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Re: negative interest rates

Post by planteria » Thu Dec 30 2021 1:40pm

has this been reflected in Savings Accounts with banks and building societies?

i'm not doing any regular saving into Regular Saver cash accounts nowadays, just regular payments into Friendly Societies, and some regular payments into instant access Building Society accounts that were set up primarily to satisfy current account criteria. fwiw i do find that by being forgotten about those balances can creep up to become useful sums of money.

nowadays i'm only really Investing, and 'Saving' into Bitcoin-based accounts. i'm not expecting cash savings to become worthwhile again for the foreseeable future.
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Sarah
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Re: negative interest rates

Post by Sarah » Thu Dec 30 2021 6:27pm

planteria wrote:
Thu Dec 30 2021 1:40pm
has this been reflected in Savings Accounts with banks and building societies?
Not much happening yet, as far as I'm aware, but it's only a 0.15% change and likely going to impact borrowers more dramatically, e.g. linked rates moving up accordingly & low fixed rates being withdrawn.

Looking at the news from Santander (for example) they're changing linked rates on savings from 12 January and not yet doing anything with variable rates:
https://www.santander.co.uk/personal/su ... ate-change
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Re: negative interest rates

Post by Sarah » Thu Mar 17 2022 1:26pm

The BoE base rate moves back up to its pre-pandemic level (0.75%) today.

https://www.bbc.co.uk/news/business-60763740
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Re: negative interest rates

Post by Sarah » Sat Apr 30 2022 9:33pm

First Direct Regular Saver up to 3.50%
https://www1.firstdirect.com/savings-an ... r-account/

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Re: negative interest rates

Post by Sarah » Thu May 05 2022 2:40am

Nationwide 2.5% right now... however another BoE rise is likely today...
https://www.nationwide.co.uk/savings/fl ... lar-saver/
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