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Interest was paid upto £16K that has raised to £20K but where is the benefit for people who have saved all their lives, they are gaining nothing worth having for doing it.
Interest wise it's not a good time but you do get to choose your carers if you're unfortunate enough to need them later in life if you have decent savings. I had a similar conversation in Santander coincidentally, although the Bank is irrelevant, asking what the incentive was to save when I'd watched over 130K of my parents money go in care fees. Keep a certain amount back for holidays, emergencies etc. and spend the rest before it's taken from you.
Enjoy your money while you can, you've worked for it so why not.
The thing that upsets me most is not that my parents money went in care, but that they didn't enjoy life to the full themselves. They saved so that I could inherit apparently. Well, that didn't pan out very well did it.
I don't need their money as I'm comfortable myself financially, but my parents purchased cheaper food items to save money. It's got to be an era thing, as they really didn't need to count the pennies.
As was mentioned earlier, I also grew up paying a colossal interest rate on a mortgage but now I have money the rate is around 0.01%, unless I'm willing to have it tied up in investment accounts, which I'm not as I can't be arsed and it would only be more for my carers to take off me in later life.