Countries BONDS Anyone with financial knowledge

Yes I know Shiney
Problem is with the rate of inflation my savings are barely marking time
One account with over 10 but less than 15k is paying 0.01% now that is losing my capital daily :-(

It should be at least realistic where savers get at least 1% above inflation and borrowers pay at least 2% above inflation
IF Capital is just marking time and ALL the savers withdrew their cash (due to no difference) They would not have anything to lend :-)

Jack McH

 

Found out today
The Credit Union are paying 3.5% dividend on deposits (unlimited)

True a lot of their (most of their) borrowers are debtors, social security non payers of rent
But any loans the DWP pay the borrowers account direct to the Credit Union
and the Credit Union pay the rest into their card account
Past three years have had no defaulters that was not paid back in full

Might put some in there

Jack McH

 

I like the idea of credit unions. It looks to me like they act in the best interests of their customers and offer the fairest deal they can afford. I believe borrowing interest rates are much lower than those of the banks, but to borrow, you have to have proven yourself first, and even then you can only borrow sensible amounts. I saw a leaflet for one once, you had to pay into a savings account with them every week/fortnight or month for a minimum of a year, without ever missing a payment. Then you would be allowed to borrow 3 times what you'd saved up. So prove yourself and borrow modest amounts as opposed to turning up out of the blue and borrowing thousands. Seems sensible to me. It means borrowers are less likely to get out of their depth, and savers can be sure their money is safe. And nobody buys a ferrari with your money and then has the nerve to charge you £35 because you accidentally borrowed 30 pence for a day because a standing order went out the same day as your wages went in.