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Increase interest rates for savings to 10% net for savings up to £200 000

Submitted on Monday 10th August 2015

Rejected on Friday 28th August 2015

Current status: Rejected

Rejection code: irrelevant (see below for details)

Petition Action

Increase interest rates for savings to 10% net for savings up to £200 000

Petition Details

Taxpayers have bailed out banks. Banks are now in a healthy state so it's high time savers got a decent return for their savings. Jobs are hard to find so a little income from savings would be useful. If the House of Lords can get £300 a day in expenses, then 10% for taxpayers' savings is reasonable

Additional Information

Interest rates have decreased each year. This is wrong when banks are getting stronger and more profitable thanks to the billions the taxpayers gave them. The banks owe the savers something.


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This petition was rejected

The Government e-Petitions Team gave the following reason:

The UK Government and Parliament are not directly responsible for the rates of interest that individual banks choose to offer on their savings products.

The Government is, however, responsible for National Savings and Investments (NS&I). You could start a petition calling on the Government to offer, through NS&I, a savings product that offered 10% interest on savings up to £200,000.

Have your say on this petition!

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