| Barclays Cuts Savers - Again |
|
While the Bank of England cut the base rate in December 2007 by 0.25%, Barclays has announced a third rate cut for its savers in the since November giving a total rate cut almost 3 times the cut in base rates. Many banks and building societies have cut rates to savers twice in the last few months, just before and just after the base rate cut but Barclays stands out on its own with the severity and frequency of its cuts.
And to make matters worse, Barclays savings rates were not the best in the marketplace before the cuts. Although its Day to Day Savings and Savings Builder accounts have been offering good rates with a minimum balance needed of just £1 on the Day to Day Saver, better rates are easily available for savers prepared to forgo branch service. Online, postal and telephone savings accounts are significantly better even before Barclays recent cut. There are good deals for savers still around even with interest rates falling but people must shop around. |
| < Prev | Next > |
|---|