British High Interest Bank Account
Oct 22nd 2010, 8:23 am
#1
Guest
Posts: n/a
British High Interest Bank Account
Just received my HSBC UK bank statement in the post. I haven't taken much notice of the interest rate changes... but, this is a HIGH Interest account, and the current rate is 0.5%.
How much do the normal accounts pay ?
The statement also says the rate for overdraft is 19.9%........... wow, that is some margin.
How much do the normal accounts pay ?
The statement also says the rate for overdraft is 19.9%........... wow, that is some margin.
Oct 22nd 2010, 9:33 am
#2
BE Enthusiast
Joined: Nov 2007
Location: Helensburgh...the proper one in Scotland
Posts: 947
Re: British High Interest Bank Account
Enjoy...my Clydesdale Bank account has a hefty 0% interest rate...although it is a bog standard Current Account. The Savings account offers 0.75% gross, around 0.6% nett.
The exchange rate just now makes up for the lack of interest I am getting at the other end.
The exchange rate just now makes up for the lack of interest I am getting at the other end.
Oct 22nd 2010, 9:34 am
#3
Joined: Jun 2006
Posts: 4,555
Re: British High Interest Bank Account
That matches the BoE rate. HSBC has never been known for high rates. Maybe there is an Icelandic bank about.
Just received my HSBC UK bank statement in the post. I haven't taken much notice of the interest rate changes... but, this is a HIGH Interest account, and the current rate is 0.5%.
How much do the normal accounts pay ?
The statement also says the rate for overdraft is 19.9%........... wow, that is some margin.
How much do the normal accounts pay ?
The statement also says the rate for overdraft is 19.9%........... wow, that is some margin.
Oct 22nd 2010, 10:26 am
#4
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: British High Interest Bank Account
British High Interest Bank Account - the ultimate oxymoron, a bit like:
Bob Hope Special
Military Intelligence
Australian Comedy
Bob Hope Special
Military Intelligence
Australian Comedy
Oct 22nd 2010, 10:32 am
#5
BE Enthusiast
Joined: Mar 2008
Location: Camberwell/S.E London > Orpington > Mornington > heart will always be in Tullamore. Co Offaly
Posts: 403
Re: British High Interest Bank Account
switch to halifax
instant access @ 2.6% and then open a current account which you transfer at least £1000.00 into every month
get paid £5 for doing that every month and then you get 2.8%
not brilliant compared to oz but not bad considering
instant access @ 2.6% and then open a current account which you transfer at least £1000.00 into every month
get paid £5 for doing that every month and then you get 2.8%
not brilliant compared to oz but not bad considering
Oct 22nd 2010, 10:34 am
#6
Joined: Jun 2006
Posts: 4,555
Re: British High Interest Bank Account
When you consider it is five times of the central bank rate it is amazing.
Oct 22nd 2010, 12:50 pm
#7
Guest
Posts: n/a
Re: British High Interest Bank Account
Oct 22nd 2010, 9:01 pm
#8
Bright in Orange
Joined: Nov 2004
Location: Orange, NSW
Posts: 515
Re: British High Interest Bank Account
Just went to my Halifax international to see what they were offering new customers, to discover they are now only offering lloydstsb stuff. Forgot to tell us customers that things had changed! they are rubbish at customer service! I do get 3% on my savings, but that stops in December and not sure what rate I will get then. However instant access available and no issues with offshore resident.
Also have a fixed interest at 3% with HSBC, but money tied up for a year. Can access with 3 months notice but need to close account then. They don't care where you live!
http://www.lloydstsb-offshore.com/of...xoffshore_ibsa
Also have a fixed interest at 3% with HSBC, but money tied up for a year. Can access with 3 months notice but need to close account then. They don't care where you live!
http://www.lloydstsb-offshore.com/of...xoffshore_ibsa
Oct 22nd 2010, 11:09 pm
#9
BE Forum Addict
Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
Re: British High Interest Bank Account
We've got an AA one - it was the highest interest rate at the time of about 2.9% AFAIR, its just a standard deposit account, not a regular savings one and allows a fairly high balance.
Worth a look here - http://www.moneysupermarket.com/savings/
Worth a look here - http://www.moneysupermarket.com/savings/
Last edited by freebo; Oct 22nd 2010 at 11:11 pm.
