2009 Lloyds TSB ISA

1618

Just received in the mail a letter from TSB offering me their rates for 2009 fixed rate Isa,was on 6.5% fixed rate 2008 must sign up before 9/02/2009 £21,000 plus 3.5% £30,000 PLus 3.75% 15,000 plus 3.25% what are your thoughts ? does not look bad to me in this climate remembering they are fixed rates.

Wsb5tails

hey, I was just about to ask the same question

harz99

Funny, their website says Fixed rate ISA no longer available - is the letter an invite to an existing or "privileged" customer?

travel_freak

Hi,

I was going to ask this too - in reply to the post above, yes it is an offer to those who have current fixed rate ISAs which are due to expire. It says it is an offer which is not on general release at the moment.

I would welcome any advice too about this as I'm not sure whether to go for it or not - accepting no-one has a crystal ball....

Kind regards,

1618

Yes the offer is to customers who fixed last year,but it also states priveledged customers .I only joined them last year and that is all i have with them ?

Innys

These fixed rates are currently not the best, according to Kazza's posting:

http://forums.moneysavingexpert.com/showthread.html?t=401374

The only benefit I can see in going for LTSB's offer is, if you accept now, they are fixed from the anniversay of when you originally opened the account with them - probably around March. If interest rates fall between now and then - unlikely as they can't fall much further - Kazza's suggestions may look less attractive.

I have one of the LTSB accounts myself but have not received the letter (yet?). If I do, I will have some serious thinking to do....

Wsb5tails

At 3.5% on my wedge there are better variable offers available at the moment, so it depends if we have any geniuses here who think the base rate will go up significantly in the period March 09 to March 10???

Much as I am impressed by the offer, it leaves me in a quandry because they want us to commit by 9th Feb and I was going to make a decision about using this money to pay off my mortgage at the end of March which is when both my 6.5% Isa finishes and my discounted morg ends.

Working on the principle of getting a morg rate that is lower than my savings rate and trying to predict what products will be around in 2 months time is beyond me, given recent movements.

1618

I am of the opinion there may well be another rate cut before my current fixed rate expires on 9/04/09 then these rates may be very competative.

wearside_2

I am puzzled by my letter from Lloyds TSB that I received this afternoon. It states that my Fixed Rate ISA matures on 3 March 2009, when interest will be added to my account. Although I opened the account in March 2008 the funds were not credited to my account until 8 April 2008. This means that my 12 month Fixed Rate ISA is in fact an 11 Month Fixed Rate ISA. Does anyone have any views on this?

I am also not impressed by the interest rates mentioned. I can get 4% at the Manchester Building Society that also allows transfers in!

whu

wearside wrote: »

I am puzzled by my letter from Lloyds TSB that I received this afternoon. It states that my Fixed Rate ISA matures on 3 March 2009, when interest will be added to my account. Although I opened the account in March 2008 the funds were not credited to my account until 8 April 2008. This means that my 12 month Fixed Rate ISA is in fact an 11 Month Fixed Rate ISA. Does anyone have any views on this?

I am also not impressed by the interest rates mentioned. I can get 4% at the Manchester Building Society that also allows transfers in!

When people opened up the fixed ISA at 6.5% last year there was lots of confusion about when the 12 month period starts - i was told in branch that it started when funds were credited but subsequently I was told that it was when the ISA was opened - that seems to be the case with you aswell - so we get less time at the higher rate!!I think this new ISA will also accept transfers in won't it?

wearside_2

Yes, the new Lloyds ISA will accept transfers in but the rates are not that great (see Post #6). I have always wondered when a 12 month period is not a 12 month period clearly it is when Lloyds TSB are involved:rotfl::rotfl: