Interest rates on savings continue to plummet despite the base rate staying still. Throw in stubbornly high inflation and savers are left with a pretty raw deal. Can anything be done to tackle the savings rates freefall?
Posts tagged with "interest-rates"
Mortgages are not best known for being easy to understand. But the confusion is only compounded by different lenders offering different rates and fee structures, making price comparisons very tricky indeed.
None of us like poor value products, but that doesn’t mean you’ve been scammed. The banks might offer you rubbish interest rates on your savings, but this isn’t illegal. Scams are a whole ‘nother kettle of fish.
If you’ve got existing debt on your credit card, this week has brought some great news – a war has broken out between card providers keen to attract new customers with 0% balance transfer deals.
Working out how much interest you’re being charged on your credit card isn’t as easy as it might appear. So why have recent changes missed the opportunity to sort out the mess and make things good?
Once upon a time, finding the lowest interest rate was all mortgage borrowers had to worry about. But nowadays, borrowers face a litany of extra fees and charges to cloud the true cost of what they will be paying.
New Which? research shows that the longer you have held your savings account the more likely you are to be earning a pitiful rate of interest. And the chances that are your bank doesn’t want you to know.
Do you stash cash at home rather than in the bank? If so, not only are you missing out on making some return on your savings, you’re also losing the protection your money would have if you kept it in the bank.
Hopefully, you’ve heard of our savings scandal campaign by now and changed to a better deal. Now we’re taking it further and pushing MPs to support the campaign, and we need you to help us make some noise.
Many of you got involved with our campaign for better savings interest rates. But have you heard the one about misleading savings account names? It may pay to steer clear, even when they sound impressive.
When was the last time you checked your savings rate? If it wasn’t recently, you might be in for a nasty shock. British savers are missing out on over £12bn in lost interest every year. It’s time to reclaim your share.
Credit card fees and charges are like a waterbed – press down in one area and they pop up somewhere else. Make sure you know the sneaky tricks credit card companies use to make profit from their customers.
Two-chord specialists Dire Straits sang about getting ‘money for nothing’. They could have been economists, as more and more banks are doing just that. They take our money and give us sweet FA in return.
Most of us are wed to banks we’ve been with for years. It’s a comfortable love affair fuelled by a reluctance to move on. But if we’re not getting much cash back from diabolical interest rates, it’s time for a divorce.