UK Savings Accounts.

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  • Hi All


    I thought this forum may be a good place to post about savings accounts as we have a large contingent of intelligent and prudent members.


    As most will know the interest rates in the UK have been slashed drastically and my question is this; what are the best accounts available with fixed interest rates?


    Any help would be appreciated.


    :agent:

    Regards
    Robbie

  • Wow Robbie, that's a tough one! We've been hit pretty hard with the economic meltdown in this country as it has been evident around the world. Your best bet for now is maybe not investing in anything for now. I am not familiar with the foreign market, but I have heard that it has been hit hard right now. I am sure someone with more insight might be able to consult with you on this subject. Sorry for not being any help, not a good time now.

    Cheers :cool: Hondo



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    00, I hope. :wink_smile:

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  • you'd be better off putting your money in a biscuit tin under your bed than trusting the banks

    " I call that bold talk for a one-eyed fat man " True Grit

  • Gold sounds a good bet or if you want to gamble buy a combination of dollars, euros and sterling one of them may go up!!

    Where is a fully working time machine when you need it!

  • Here in the States our Credit unions are an alternative to the Banks. The UK and Germany both have Credit Unions but they are connected to the banking institutions, for example Barclay's processes for many CU's.
    The Credit Unions may still be a good alternative for you. They have come through the economic issues better here because of their higher regulations(NCUA).

  • We have credit unions here in UK. Generally, before the credit crunch they were fine. They never tended to pay high savings but were a source of a cheap loan if you were a regular saver. There have been rumours that some have financial problems as well with loans not being paid back and I am not sure whether savers would not be guaranteed anything if they go bust.