If you have any savings accounts with National Savings & Investments you probably already know, via email, that on Nov 24th they are cutting interest rates.
The largest cut is on Income Bonds, currently 1.16% is being slashed to 0.01%, Direct Saver goes from 1% to 0.15%.
Being its the govt scheme this might be a portent that further slashing of bank base rates is on the cards.
Haven’t the foggiest idea which way to jump, will wait till nearly the time before deciding and see what others are doing (whether signing up for any long term locked rates is an individual choice), just a heads up for those who have any savings as the economy is trashed deliberately ever deeper by the lunatics in charge.
At this rate Premium Bonds are starting to look better than ever, you get no interest but if you’re getting none elsewhere you do at least have a chance of a win of some sort.
Also, whilst on the subject of money, did anyone notice the national govt debt has now doubled, from £1 Trillion to now over £2 Trillion, since 2010.
The difference is moot.It was already a negative rate now it’s just more of a negative rate.
It doesn’t make any difference to me they’ve already decimated my savings with ongoing rate theft since 2007 recently followed by the loss of my late Mum’s income.
Now reliant on UC and will withdraw the last £1,500 left in it just to pay the household bills.In an account which started with enough in it from a private income protection payout to financially support myself given a proper interest rate.Much of which I consider as stolen.Effectively it’s just theft of capital in typical Socialist fashion until they run out of other people’s money.
While ironically anything over £6,000 now counted against my UC benefit and council tax relief.
Which just meant the last few quid just went even quicker because I had to use it to live and pay council tax with no income hit from both sides by theft interest rates and a council tax relief system based on savings and income.So zb em they reap what they sow.They’ll probably be left with loads of empty closed accounts.
Carryfast:
So zb em they reap what they sow.They’ll probably be left with loads of empty closed accounts.
I’m increasingly convinced this is part of the plan, destroy the know traditional economy so theirs and previous leader’s mates with £billions can clean up once more on cheaply sold govt properties etc, payback for earlier investments which made our former leaders rich (the current one is brassic mainly due to his own trouser snake, be interesting to watch his fortune grow in future years), and to put otherwise fairly independent working class made good and middle classes into penury.
Easier to control when they’ve got you by the ■■■■■■■■.
We had savings in NS and I, on Tuesday I told them to transfer the lot to my bank, received it Wednesday and stuck it in a fixed interest fixed term bond.
I imagine that thousands of others will do the same before other interest rates get cut down.
We had savings in NS and I, on Tuesday I told them to transfer the lot to my bank, received it Wednesday and stuck it in a fixed interest fixed term bond.
I imagine that thousands of others will do the same before other interest rates get cut down.
Buckstones:
We had savings in NS and I, on Tuesday I told them to transfer the lot to my bank, received it Wednesday and stuck it in a fixed interest fixed term bond.
I imagine that thousands of others will do the same before other interest rates get cut down.
Indeed old friend, we’ll give it some thought as to which one and probably do exactly that.
One lot i won’t use again is Metro Bank, no denying your money is safe, so safe it proved a nightmare 
to get it transferred back into my bank when the fixed term high interest rate matured, extremely secure internet passwords and numbers.
I listened to Martin Lewis and put ours in NS&I in July, now it is going back in a tin under the bed.
Juddian:
Carryfast:
So zb em they reap what they sow.They’ll probably be left with loads of empty closed accounts.
I’m increasingly convinced this is part of the plan, destroy the know traditional economy
Easier to control when they’ve got you by the ■■■■■■■■.
The commies threw down the gauntlet the elites chose better red than dead.Big mistake. 