Lloyds TSB instant access monthly saver 8%

lipidicman

capehorn wrote:

OK, after three months of waiting for the right moment, I'm going to open one this week. Two questions... do you need an appointment or can you just go in and open one? And the £500 opening deposit, can they do that for you, or do you have to deposit it into the account yourself?

Some branches may want you to make an appointment, others will do it on the spot.

My £500 deposit was done on the screen by the account opener from my Online Saver (some say they cant do this, but they can). It was an instant transfer

Kazza242

capehorn wrote:

OK, after three months of waiting for the right moment, I'm going to open one this week. Two questions... do you need an appointment or can you just go in and open one? And the £500 opening deposit, can they do that for you, or do you have to deposit it into the account yourself?

When I opened mine, I had made an appointment. It's best to make an appointment if possible, to avoid disappointment.

As I didn't already have a current account with LTSB at the time, I brought £750 in cash with me the day my accounts were opened. The personal banker deposited the £500 into my newly opened monthly saver and the £250 into my LTSB current account straightaway.

anniecave

I've just opened a new current account and saver in a branch. They advised me to make an appointment, which I did. They went through it all and everything is now set up. A whole lot quicker and easier than trying to do some regular savings accounts......

anniecave

Kazza242 wrote:

The personal banker deposited the £500 into my newly opened monthly saver and the £250 into my LTSB current account straightaway.

I did the £500 by cheque, and I also set up a bacs payment from my existing current account immediately I got home for £250 for the first "standing order" payment to my monthly saver.

capehorn

Thanks for the answers. I'm going to my branch tomorrow morning. One last question, I want the interest paid gross. Do I have to go armed with a R85 or if I tell them will they just do it for me?

jonesMUFCforever

They will supply you with an R85.

tippex_2

I was reading some of the threads on the site and noticed that people have commented that in order to have a current account with Lloyds (a prerequisite in order to get the 8% regular saver) you need to deposit at least £500 a month. When I went into my local branch of Lloyds and asked to open a current account the staff told me on 2 separate occasions that I would have to deposit £500 a month. However on their website there is no mention of this. So, I gave Lloyds a call on: 0845 3000 000. They were very helpful and seemed confused that I had been told I needed to deposit £500 each month to open a current account. THERE IS NO MINIMUM DEPOSIT EACH MONTH apparently. They set me up with my current account over the phone. Now I'm about to open the monthly saver!

KTF

There are two different accounts. One requires no min funding and one does if you want a higher rate of interest on whatever you deposit.

jonesMUFCforever

Terma and conditions of Monthly saver have now changed. It used to be that the LTSB current account had to be your 'main' account. This is no longer the case.

ED

ejones999 - I'm always glad to see you here imparting your knowledge, thanks!

Please can you clarify that there is no penalty with the Classic Plus current account in any month when customers make no deposit or deposit less than the £1,000 required to achieve the 3.93% gross interest rate?