Lloyds TSB Vantage - Multiple accounts

horace_2

CPI = 4.5%
RPI = 5.5%
new vantage accs = 2.4% (nett @20%tax) 3% gross

Well done Gordon Brown.
Well done Mervin King.


But rejoice our Banks are "solvent". We saved the Banks! Well done to one and all!

SOB

h

worriedme

Hi,

Do I receive 4.00% each month if I have between 5-7k in the classic vantage account?

Can I open more than 1 of these accounts and swap 1k between them each month and still be within the T&Cs?

Am I too late to join the bandwagon?

I know this will be changed in June

Regards,

worriedme

Baldur

worriedme wrote: »

Do I receive 4.00% each month if I have between 5-7k in the classic vantage account?

No. The 4% AER is the annual rate.

Can I open more than 1 of these accounts and swap 1k between them each month and still be within the T&Cs?

Yes.

Am I too late to join the bandwagon?

Probably.

TheMatrix_2

worriedme wrote: »

Hi,

Do I receive 4.00% each month if I have between 5-7k in the classic vantage account?

Gosh, do the maths on 4% per month compounded for 5 years. It's staggering. You'd have increased whatever you invested 10 fold.

adindas

Lol ...:beer:
I wish there was an investment provide return of 48% pa

TheMatrix wrote: »

Gosh, do the maths on 4% per month compounded for 5 years. It's staggering. You'd have increased whatever you invested 10 fold.

ffacoffipawb

TheMatrix wrote: »

Gosh, do the maths on 4% per month compounded for 5 years. It's staggering. You'd have increased whatever you invested 10 fold.

adindas wrote: »

Lol ...:beer:
I wish there was an investment provide return of 48% pa

4% per month compounds to over 60% pa.

kar999

compounded interest.... Oh if only the vantage accounts had allowed interest bearing balances @ 4% over £7k!!

theboylard

I manage the F-i-L's money. I set up 3 vantage accts last year, had his gold acct downgraded to a classic (does an 86 year old man with dementia, in a care home really need mobile phone and travel insurance?!) then added vantage. This stupid woman in our local Ltsb was adamant that we see their branch advisor about the money, didn't have a clue about CoP orders either - telling us (with the order in our hand) that we needed to get power of attorney!

Told her we used an independant advisor so no thanks.

She saw the wife the other day and said which account did we want the vantage taken off of?! Can only have 3 she said.
Trying to find a new home for £60k now...

steady__eddie

"Trying to find a new home for £60k now... "

If you're really stuck, I've got a shed with some space in, it's got a really strong padlock on, honestly.

andferdav

We had a letter to say that the upper limit will decrease from £7k to £5k towards the end of June, AND that the interest rate will be only 3%.
Their site still says 4% on £5-7K, no idea when they will change it, probably the day before the change. :mad: