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Comment by notahacker | Hacker News Reader

A lot easier to chip away at savings if they're under the mattress losing value rather than in a savings account earning above-inflation interest

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Show me a savings account in a developed country earning above inflation interest.

NetSpend (US) promotional rate is 5% annually. Capped at $5000, but that's certainly above inflation for that balance.

Various banks and credit unions (US) have promotional (capped) 2% rates. (Above inflation.) Ally bank (US, online) has a ~1% rate, which is sometimes above inflation (uncapped).

More info: https://www.nerdwallet.com/blog/banking/nerdwallets-top-high...

If you're capping it at a dollar amount, its a marketing promotion/cost, not a true market interest rate.

Ally and others linked at nerdwallet are not capped.

Right, but as I point out below, you're not getting ahead making 0.1% above inflation. You're barely tracking it if it increases (and with rents and healthcare costs spiking/not properly tracked in inflation, I'd say you're most assuredly not staying ahead of inflation).

Yeah, but you didn't ask to "get ahead." Just:

> Show me a savings account in a developed country earning above inflation interest.

Anyway, 0.1% above inflation still beats 0% cash-under-mattress (in inflationary environments).

https://www.fnbodirect.com has .95% for savings (they used to have 6%)

Inflation for March was .85%.

I think we're quibbling when the difference is .1 percent. Too much capital is chasing too few returns.

You must be f. kidding? http://blog.geckoresearch.com/content/11658

Also: http://www.wsj.com/articles/rising-rents-outpace-wages-in-wi...

Here's my current account http://www.santander.co.uk/uk/current-accounts/123-current-a...

Needless to say you can do a lot better with specialist products and better still with funky startup consumer investment platforms if you don't mind the risk

> Monthly interest of 3% AER (variable) payable on your entire balance up to £20,000, when you have at least £3,000 in your account.

Capped.

Sure. After that I have to use their actual savings products, which also pay over current inflation rates. (Or earn 5-12% on a lending product with actual risk associated with it). Try sticking more than £20k in your mattress.

Dunno if Poland qualifies as developed country, but most banks here offer an account with 3-5% interest above inflation (or deflation, as we are currently experiencing since year and a half).

Goldman Sachs just started to offer 1.05% on savings: https://www.gsbank.com

US inflation for last 12 months as of March 2016 was 0.9%.

Livret A in France, 0.75% interest.

Negative interest rates will chip away at savings in a bank, in that case best to have cash

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