Rabo reduce 1 year term deposit rate to zero!

[Lightning]

Rabo have reduced their 1 year rate to 0.00% fixed from 0.05% fixed.

Very surprising that Rabo are still offering the product but yet paying zero.

Why on earth anyone would lock for 1 year with no return is beyond me. (unless they are expecting negative rates!).

 

[moneybox]

Yes that is what I said a while ago, they will start charging us to keep our money in the bank. :-(

 

[Boyd]

I don't know whether to laugh or cry! Surely its not good sign of things to come. They have best instant access rate so hope they don't chop that...

 

[Lightning]

Yes that is what I said a while ago, they will start charging us to keep our money in the bank. :-(

There have only been a small number of international examples of this happening to retail customers.

Granted, there are an increasing number of examples of this happening to very large corporate customers.

And the ECB may go more negative in December.

 

[moneybox]

There have only been a small number of international examples of this happening to retail customers.

Granted, there are an increasing number of examples of this happening to very large corporate customers.

And the ECB may go more negative in December.

and the Swiss lead the way...

http://www.thisismoney.co.uk/money/...Swiss-bank-ABS-hit-savers-negative-rates.html