Bank Interest

Pretty crap at the moment I know, I know. But the interest depending on how much you had in the bank was very generous at the time before this current crisis.

I shall not tell you what bank I am on about here as for safety of my money :) But I shall tell you about my wonderful plan that I had to make me richer in some sense.


When university started for me, I opened an online account with this bank. Since my parents was the trustee before as under 18 la de da.
So my genius plan which most likely alot of people thought of this was, to get a loan lower interest than my bank interest and save it all up to make more than what I loan. So that's what I did with Student Loan company.

First year (2006), I had £500 interest (wow! I know, but just wait! Okay, if some of you guys are dead-rich and think that is small interest, I am NOT RICH like you!).

Second year (2007), I had still had loans added into my bank account. I had £750 interest (not as great change of interest than previous year's interest).

Third year (2008), I had a whopping £1100 of interest!!! Sweet isn't it! But that was the peak of all UK bank's interest.

This year (2009), I had to pay back the loans since the interest on the loan was higher than my bank interest. Also had to pay out some money for buying an expensive "something". My interest now is £200. I know it is CRAP interest!

As a student, that is pretty good interest from a poor-ish household. I'll tell you what I got: Maintenance Grant from the Government, Full grant from my university and had a Maintenance Loan from the student loan company until interest got too high.

See I'm poor! All the grants was used to pay full university tuition fee.

This shows you how good UK banks WAS. Of course I have got several banks incase one bank goes bust! But this bank account has most of my money for the interest mainly and can't be arsed reasons too.