That's not what I remember. I couldn't find data for 2002, but this[1] shows that savings accounts paid 0.6% at the end of 2003. Savings rates also generally tr

That's not what I remember. I couldn't find data for 2002, but this[1] shows that savings accounts paid 0.6% at the end of 2003. Savings rates also generally track short-term Treasury rates, and those were below 2% for all of 2002. [2] Edit: Never mind, OP said this for the UK (which, nice rates btw). Leaving this comment for the links to US comparisons. [1] https://www.ncua.gov/analysis/cuso-economic-data/credit-union-bank-rates/credit-union-and-bank-rates-2003-2005 https://www.ncua.gov/analysis/cuso-economic-data/credit-unio... [2] https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yieldYear&year=2002 https://www.treasury.gov/resource-center/data-chart-center/i...