Banks and the economy

Magpie Credit

Specialist lender

Lends to people other banks turn away. Money the same day, even with a low credit score, but its loans are expensive.

Savings

Rates are the Bank Rate (4%) plus or minus this bank's margin, and never below 0%.

Account	Type	Rate a year	Bank Rate plus	Smallest deposit
Magpie Saver	Easy access	4.00%	+0	£50
7-day Fixed	Fixed for 7 days (locked, no early withdrawal)	5.00%	+1	£200

Loan	Amount	Longest term	Rate a year	Bank Rate plus	Credit score needed
Quick Cash	£50 to £3,000	6 weeks	22.00%	+18	400

Cash in reserve	£64,000
Savers' deposits (what it owes savers)	£0
Cash it must keep (20% of deposits)	£0
Loans still owed to it	£0
Shares it owns, at today's prices	£15,920
Capital (its own money)	£80,000
All money ever lent / paid back	£0 / £0
Interest earned on loans / paid to savers	£0 / £0
Dividends from shares	£0
Lost to defaults (0 loans)	£0

Once a day Magpie Credit looks at the UKOGB Stock Exchange and follows these rules:

It keeps 20% of savers' money as cash, and aims to have 60% of the rest of its money in shares.
It buys companies whose price is at or below their recent average (the last 30 trades), the best bargains first.
It sells half of a holding once its price is 8% or more above the recent average, and sells shares if its cash falls below what it must keep.
No one company may be more than 20% of its money, and it places at most 3 orders a day, at the last traded price. Orders not filled by the next day are cancelled. It pays stamp duty like anyone else.

Company	Shares	Last price	Value
Hopkins PLC	15,920	£1	£15,920

When	What	Cash
22 Oct 2026, 00:25	Bought 15920 of 15920 Hopkins PLC shares at £1 (the price is at its recent average)	-£15,920