Rant Interest rates

[00dave]

If you are earning good money and have some good savings why moan?
You are doing a lot better than most other people...

I also worked harder and did without a lot of luxury items more than most people over the past few years. I'm glad it helps a lot of genuine sufferers out but it just pisses me off that all the morons who borrowed more than they could get a break while I have hardly any return on my hard earned saving.
Next time you drive down a council estate count the satellite dishes and the flat screen tvs illuminating the front rooms. Can they afford all that shit or do they just play the system?

 

[Trem]

Well fuck me I didn't know premium bonds were interest based, but of course they are.

I'm gonna buy me some gold and crack cocaine I reckon.

 

[Chilly]

the return on premium bonds IS the prizes. averaged over the time the amount you expect to win will be the interest they offer. Obviously you can win more or less based on luck and number of bonds etc.

 

[Cadelin]

Well fuck me I didn't know premium bonds were interest based, but of course they are.

I'm gonna buy me some gold and crack cocaine I reckon.

The prize money is based on the total deposits and the bank of interest base rate. Mathematically premium bonds are a bad investment compared to say an ISA but there is the chance that you will win a big prize. Also as the winnings are tax free if you are a higher rate tax payer (and your ISA allocation is used up they are reasonable). You might also want to start giving cash to your children to save for (university etc). That can be tax free and often as it will be long term banks can give you quite a good rate of savings.

I believe there are several banks that offer new customers a bonus of around 1-1.5% interest for the next 12 months. ING, Tescos, Barclays that I know off. As long as your savings are below £35000 (or has that increased?) then it is backed by the government in the same way premium bonds are. Given the low interest rates at the moment these savings will at least beat inflation!

 

[Deebs]

It is a fucking disgrace that we bail out the fuckers who are part of the mess. If the banks don't lend money, fine, don't give them any.

Give it to Northern Rock and RBS (nearly a state bank) and just lend like fuck to businesses and people who need it. Watch the other banks suddenly start lending as most of their custom moves away.

This is time for a radical shakeup of our banking system, rules need to be put in place so that banks do not overlend to aggressively against their total deposit, oh and some of them need culling.

Fuckers.

 

[taB]

the return on premium bonds IS the prizes. averaged over the time the amount you expect to win will be the interest they offer. Obviously you can win more or less based on luck and number of bonds etc.

Haven't won on the Premium Bonds for 20 years Twice before that.

 

[Jupitus]

Look how quickly RBS are following the rate cut with corresponding cuts in their own standard variable rate, eh???


asshats

 

[Chilly]

considering they re 70% state-owned, that's fucking atrocious behaviour imo.

 

[Bugz]

It is a fucking disgrace that we bail out the fuckers who are part of the mess. If the banks don't lend money, fine, don't give them any.

Give it to Northern Rock and RBS (nearly a state bank) and just lend like fuck to businesses and people who need it. Watch the other banks suddenly start lending as most of their custom moves away.

This is time for a radical shakeup of our banking system, rules need to be put in place so that banks do not overlend to aggressively against their total deposit, oh and some of them need culling.

Fuckers.

We bail them out because without them, the economy crumbles.

rules and regulations do need to be changed and adapted yet, but rather it be done when the economy is stable as opposed to changing them with the situation is bad and causing the situation to perhaps never fully recover / stay in a very prolonged depression.

 

[Deebs]

considering they re 70% state-owned, that's fucking atrocious behaviour imo.

Tell me about it, the government should hit them with a fucking big stick!

 

[Deebs]

We bail them out because without them, the economy crumbles.

rules and regulations do need to be changed and adapted yet, but rather it be done when the economy is stable as opposed to changing them with the situation is bad and causing the situation to perhaps never fully recover / stay in a very prolonged depression.

We don't need ALL the banks to get this economy going again. Poor management is the problem here and they are getting rewarded for fucking up.

 

[Chilly]

Some should certainly fail and the shareholders should pay the cost. but hold on...WHO are the shareholders, in general, for big institutions in this country? Pension funds. Which means the public. OK so we let 30% of banks fail, pension funds take an even bigger nosedive than they already have plunging vast tracts of society into serious and potentially irrevocable poverty.

Of course there is value in letting bad businesses fail, but when those businesses have been allowed to become so huge and depended upon, it stops being a free and efficient market and thus the normal rules of market based failures may not always apply.

We need more, smaller banks. By nature they are less efficient but they produce an overrall more efficient and safe investment and lending enviroment. The people who suffer? The 0.00001% of the £lol rich ***** who skimmd the profits from these megabanks.