0.25% Interest!

[Tilly2]

I had a letter from LLoyds bank today telling me that my Cash ISA was 'changing'. The 'change' is a drop from 0.50% to 0.25%! What...........?

I'm off to another provider. Post Office or Sainsburys. Probably Sainsburys having looked at Money Supermarket.

More hassle!

[Tilly2]

Thanks for all the replies and suggestions, everyone. Much appreciated.

[murraymints]

Tilly ..I will take care of it for you..shall I send you my bank details ?? lol

[Tilly2]

How much interest will you pay, Minty?

[murraymints]

I will pay great personal interest on the balance Tilly.....( want a porch building ) lol...

[Tilly2]

I'll send you enough for a new doormat, for your new porch.

[murraymints]

humph !..better than nowt s'pose ...:-(

[Tilly2]

OK, Minty, I'll send you some money. Please put your account number and sort code on here and I'll send it later today.

[fiction-factory]

Old-Geezer- rates of around 1.5% seem low because we are used to high rates and higher inflation, but given that inflation is around zero (some say slightly negative) then it's not a bad deal. If you have savings you can draw down on them rather than rely on interest

[Tilly2]

What does 'draw down' mean,please, FF?

Do you mean spend it?

[fiction-factory]

Yes, tilly, but not one go. If someone has £20000 saved up and can't live off their income plus interest of maybe £300 a year why not withdraw say £1000 a year for 20 years

[Tilly2]

I see FF. Thank you.