2009 Lloyds TSB ISA

Wsb5tails

Yes but will you still be able to get 4% from Manchester in March when you are ready to move your money out of Lloyds? that's what the rest of us are trying to decide. If Manchester drops by 0.5% or in the next few weeks, will we be kicking ourselves?

I guess this is what Lloyds want from us, to make us commit now. It may work well for them as I imagine the prospect of a huge out flow of cash might hurt them especially consdering the compensation they've had to pay US authories over the trade sanctions.

On the other side, if rates pick up later in the year, we will be stuck with a poor rate.

And another part of the equation is the length of time it takes to transfer ISA, when they seem to go into a black hole for 30-45 days (from my own experience).

Wsb5tails

whu wrote: »

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?

So are you saying we were getting 6.5% interest on an account with nothing in it? or were we getting 6.5% interest on money still held by the old ISA provider

whu

.

And another part of the equation is the length of time it takes to transfer ISA, when they seem to go into a black hole for 30-45 days (from my own experience).[/quote]
Yes that is a point to bear in mind - two of my ISA transfers to Lloyds last year took over 2 months each although I did get some compensation

whu

so02see wrote: »

So are you saying we were getting 6.5% interest on an account with nothing in it? or were we getting 6.5% interest on money still held by the old ISA provider

The former although you were still getting interest on the ISA you had (at whatever rate you were getting from that provider) until the day it was transferred to Lloyds

sleepless_saver

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?

The T&C say that the ISA starts from the date of first deposit, and that the end of the fixed rate period is the first anniversary of the date on which the ISA was opened. My ISA dosh was deposited on 3 March 08, but the letter I got from Lloyds today says the fixed rate expires on 11 February. So I will definitely be querying this as it's a good few weeks interest.

OH has the same problem with his Lloyds ISA. Looks like they are up to something iffy.

Gambler

I'm seriously

Gambler

I'm seriously thinking about closing my ISA when it matures and putting the money in my offset account.

3.5% against 5.29% is a difference of £900 over the year for me.

Any thoughts?

oxenryd

Just thought I'd post full rates

if you choose to fix again for 12 months
£30K+ 3.75%
£21K+ 3.50%
£15K+ 3.25%
£9k+ 2.75%
£3K+ 2.25%
£10 + N/A

if you choose not to renew and stay with Lloyds TSB variable you'd get
£30K+ 2.00%
£21K+ 2.00%
£15K+ 1.90%
£9k+ 1.75%
£3K+ 1.60%
£10+ 1.00%

Bogof_Babe

whu wrote: »

.

And another part of the equation is the length of time it takes to transfer ISA, when they seem to go into a black hole for 30-45 days (from my own experience).

Yes that is a point to bear in mind - two of my ISA transfers to Lloyds last year took over 2 months each although I did get some compensation

This won't apply though, as they are just re-investing the money they already have.

Think I'm going to go for it. 3.75% sounds pretty good at the moment.

HardSpend

Does everyones 6.5% fixed rate expire on 31 March 09?

i.e. it doesn't matter if you opened account 2 months later, the last two months interest will only be at the new variable rate?