Bank Of Shame: Great Savings Robbery Gets Even Worse


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The gap between bank deposit rates and loan returns has got even wider

The UK's banks get a real roasting in the latest blog by Nicola Horlick, Money&Co.'s CEO. The numbers tell their own story. As banks ruthlessly cut savings rates, as highlighted in recent reports in the media and on this site, the gap between deposit savings' rates and the return on crowdfunded loans has widened further – to an incredible £17 billion in lost interest per annum.

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Half a million savers at Royal Bank of Scotland and NatWest will see their interest rates cut by the end of the year as part of what banks are describing as a "simplification" require further examination. Noting that, Money&Co. has crunched the numbers again, and discovered the ugly truth about what's happening – or rather isn't happening – to savers' £1.2 trillion on deposit with banks and building societies.

Read Nicola Horlick's full blog here.

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Crowdfunding & Risk

To learn more about the basics of crowdfunding and peer-to-peer (P2P) business lending, visit our Knowledge Hub. There are also explanatory videos on site. Remember, when you loan capital, it is at risk. Please read the warnings and explanations on site before committing your capital.

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Disclaimer: Money&Co.™ is the trading name of Denmark Square Limited, Company Number 08561817, registered in England & Wales, authorised and regulated by the Financial Conduct Authority (FCA). The company is identified on the Financial Services Register under Reference Number 727325. The registered office is 58 Glentham Road, Barnes, London, SW13 9JJ where the register of Directors may be inspected. Denmark Square Limited (ISA manager reference number Z1932) manages the Money&Co. Innovative Finance ISA.