Savings Account

[jennyjoan]

This is what I have been told by one of the bankers


More information...

In plain English this means, you'll earn interest on the first £2,500 of your balance each month but you won't get any interest on any part of your balance over £2,500.

Now what I want to know does that mean that if I have £10,000 I don't get interest on the £7,500 - sorry for being stupid.

[fiction-factory]

Yes the Santander regular saver is 3% now but I was asking whether jennyjoan had taken it out like I did when it was 5% until not too long ago. The 5% figure is still being paid. But even 3% for a new account isn't bad and is better than inflation. There comes a time though when it's worth considering generating more income by drawing down on savings rather than relying on meagre interest rates