Lloyds TSB instant access monthly saver 8%

jonesMUFCforever

No and yes!
You can put in up to £500 within first 7 days of opening account and then £250 max per month.So at end of month 1 your maximum balance would be £750.

jonesMUFCforever

Vlad24 wrote:

This is now online and can confirm that the max initial deposit is £500 and not £750.

But there is nothing to stop your first standing order going through immediately so that at end of first month your balance will be £750

Prosaic

I'm a Lloyds customer and this account sounds hard to beat

You can only pay in once a month. Does anyone know if this amount can be flexible between the 25 & 250?

some months I might want to deposit more than other months

Milarky

Prosaic wrote:

I'm a Lloyds customer and this account sounds hard to beat

You can only pay in once a month. Does anyone know if this amount can be flexible between the 25 & 250?

some months I might want to deposit more than other months

I believe so, but you are restricted to a single credit per calendar month - and by standing order. Remember that you can withdraw (but not redeposit any withdrawn funds) without restriction - just like an instant access cash ISA would work. Your best bet is to pay in the maximum monthly anyway and then just take out the 'difference' to fund the next full payment if needed. Hopefully you will find that you end up saving more than you thought you would that way.

lipidicman

OK mine is opened. Did it in branch and was their trial run. The account is on the screen and the S/O will be in on the 30th. I will then change this online to go in early next month and then move it to be the 1st of each month after that (you can't change a standing order from 30/5/06 to 01/06/06 as there would not be enough notice)

Lloyds have finally launched a great account!

Redrum_2

As an existing LTSB customer with current a/c and savings already there, I found this offer far too good to resist. As I'm saving for a mortgage deposit, the extra interest will come in really handy

Just rang up to open the account and found the call handler extremely helpful, polite and friendly - which makes a nice change! The whole process took less than 10 minutes and was utterly painless

She reckoned the a/c would be set up "in the next couple of days", so I'll keep an eye out for it on my internet banking.

lipidicman

My recommendation: If you can get to a branch, then do so. The account can then be opened for you while-u-wait. It would seem the phone line is parking you in a queue.

I hope all goes well for the phonees(?) but I needed to ensure that first S/O hits on the 30th.

mary

So your timetable reads like this.
23 May (today) Open account + £500,
30 May STO for 250 starts 1st payment
2/3 June change STO for say 2-3 days later, say 5-6 June - 2nd payment
During June change STO for July
1 July STO an onwards 3rd payment etc.
Is that right?

lipidicman

Yes mary, spot on. That was the best I could manage. I guess the SO may not go through (I left the form in the bank rather than set it up myself on-line, but the lady was very good and I have confidence here) but that wont be the end of the world and corrections can always be done if the bank are at fault!

mary

Off to the bank I go then now, instead of the 30th and follow suit, if you don't mind. Thanks.