this post was submitted on 20 Sep 2025
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[โ€“] LainTrain@lemmy.dbzer0.com 1 points 10 hours ago

That's... crazy.

Here in the UK I get a 4.25% APR savings account. It's completely free and I've already got about ยฃ20 in 2 months off just putting a little bit of money away each month. Up to ยฃ20k this is tax free as well, though I'm nowhere near that haha.

If you're saving for a home you can also open a special savings account from which you can only withdraw for a downpayment on a first home where you get a 25% bonus on your deposits from the govt, up to ยฃ1k for ยฃ4k deposited per year, all that is of course also tax free. I got about ยฃ700 from ยฃ3k of deposits.

My day to day bank account and one I get paid into by work (also free ofc), I just empty right away and plug into savings so it sits there accumulating interests, then I live off a credit card for the rest of the month, which is interest free as long as you pay it off every month, and for every purchase over ยฃ50 you can split it across three months, without interest.