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Best place for your cash?


observer
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Seems those that are acting responsibly by saving, are now being ripped off by the banks, as inflation has now overtaken the meagre interest rates being offered by the banks - so where's the best place to put your cash OR should we just carry on with the spend culture? :?

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If anyone is in any doubt as to where they should deposit their cash for safe keeping just let me know and I will give them the number of a safe bank account where I will personally take care of said cash. :wink::wink:

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I got whopping ?40 interest on one of my building society savings account in November. Just checked and the year before I got ?385 and the year before that I got ?630 on the same amount :cry:

 

Our Isas are now doing something like 10p a month. Company BMM account (where you put your excess cash to get interest) now gets about 1p a month whereas it used to be about ?40

 

Time to SPEND rather than SAVE... maybe buying and then selling on ebay offers a better 'return' might try it out :D

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Sorry Pierre, I'm struggling with the maths - they pay out 5% interest on savings - so where do they stash the cash, and at what return? They charge 1% interest on loans, so there's a 4% deficit somewhere?

They charge 1% per MONTH,thats 12% per annum.

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