When is a fixed monthly saver not fixed....

freezspirit

When its a Lloyds monthly saver fixed interest saving account.

Seriously I remember when I opened the account in March it was 4%. Then around August/September time I went into my local branch to be told it was 5%. And today checked online to find it was 2%.

So went into the branch today to find out exactly, the lady checked online then rang the "interest rate hotline" to be told for the first 6th months it was 2% and the last 6th months of the account it will be 3%.

Lokolo

The interest you get will be whatever it was when you opened it.

The rate online will be the one for customers who now want to open one.

Monthly Saver previous rates

Monthly Saver opened between 26/05/2009 and 27/09/2009

5%

http://www.lloydstsb.com/rates_and_charges/monthly_saver_prev_page.asp#monthly

withnell

Lokolo wrote: »

The interest you get will be whatever it was when you opened it

This is the same for ANY fixed rate account - the rate is fixed when you take it out

MarsdenCuckoo

Yes, did a bit of a recky recently and like the OP thought I'd been duped too (re. Barclays). Called in at my local branch though and they confirmed that it was fixed at the date I opened the account. :j