2009 Lloyds TSB ISA

Gordon_T_2

Irrespective of there being another rate cut, I personally will be looking at what the others have on the table closer to the cut off date before commiting. My hunch is that there will be better deals on offer. Banks are the greediest of any businesses and will do any underhand tricks they can to get at your money. Dont fall for it. Whoever heard of a bank thats gives money away?
I can see where your coming from on the subject of investing a decent lump sum. Those people tend to get better rates anyway. Why? because they want your money. Simple as. The more the better. If not, well why not give the same rates for everyone?
I believe better offers are just around the corner. Other banks will of no doubt looked at this offer and are wondering what they will have to do to get at your money. Many will be reviewing their own offers that they are proposing. Tying someone in at a fixed rate for a year is good money for them and they know it. How may folks have leapt out of the 6.5% deal? Not many I believe. Just my 0.02 cents worth.

oxenryd

Gordon_T wrote: »

the general concensus from her and the other workers is that its a ploy to get people on board the new product. ......Hence getting this new deal out quicker than anyone else.

This is exactly what I was thinking, I also agree with your big NO. I'd fix at 4% +, but as I "only" have 11K in there, I've been offered 2.75%. At that rate, I prefer instant access, even if rates are going to go down again.

lancs123

I received the same letter on Monday, I'm not signing up just yet until I have had a good think about it. I do have a dilemma though....

Would you cash in an ISA (matures Mar '09) with roughly 3 years contributions in it to put money into a fixed rate saving account where I'm getting 5.2% NET fixed until 17th August 2009?

I would get roughly 5 months at this rate and then have to open a new ISA in August and put the rest in a low rate savings account.

Is it wise to cash in an ISA to favour a high rate savings account in the short term?

I suppose cashing just 1 or 2 years contributions isn't to foolish?

decisions, decisions

Fella

Gordon_T wrote: »

Whoever heard of a bank thats gives money away?

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:


...remind me what caused the credit crunch?

Bogof_Babe

I would only cash in an ISA if I really needed the money, because you will never get that tax free allowance again for the lost years.

Just_landed

Gordon_T wrote: »

LTSB were quick off the mark to launch this product

Last year HALIFAX Bank beat the Lloyds TSB Bank to it by about 2 weeks, that could be one reason why they have brought there's out so early this year.:cool:

humfer

oxenryd wrote: »

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%

Am currently on a fixed rate ISA with Lloyds so hoping I get a letter soon. One quick question. I reckon that with my interest added I will be just under one of the thresholds. Am I right in assuming that as soon as I go over the threshold (i.e. when I put in the 2009/10 amount) I will automatically get the higher threshold interest on the whole balance?

Wsb5tails

yes, that's my understanding, if you have the patience to read through all the small print they sent with the offer.

surfcat

Well, I've tried several days of getting Lloyds to ring me back with an answer to my question about the maturity date. They promise to ring back but never do, they give me invalid phone numbers for their ISA department and various call centre staff have difficulty seeing notes written on my account. So today I'm actually going to go to the branch and put all the information in front of them, and ask for a print of any notes on my account.

What I managed to glean from my phonecalls yesterday is that:
my branch manager agrees that the ISA matures on the anniversary of the transfer, not the form filling date, and
apparently there are notes on my account that say interest is backdated to the date of the transfer cheque.

None of this adds up to 12 months however, so I'll see how I get on today.

Comfortably_Numb

Still not had a letter about this. Is it a limited thing, or open to all ISA fixed rate customers?