Lloyds TSB 8% monthly saver

medic1978

Hi
I opened a monthly saver recently.
I have a Lloyds TSB current account. This isnt my main current account but i do use it to pay 1 or 2 bills and make the occasional withdrawal/deposit

I opened the monthly saver by phoning the number on the website. You can also go into a branch.
You can deposit £500 in the 1st 7 days and up to £250 per month by standing order. The standing order can be from any bank. The account stays open for 2 years paying you 8% interest(before tax). There are no penalties for missing a standing order but you cant make it up later....
After the 2 years it converts to a normal savings account

Hope that helps, if so hit the thanks button.

Tracey04

just to clarify, can I set up a standing order from Halifax to Lloyds 8% acc, and withdraw money back to a Halifax current account, or do you collect money from a cashier at Lloyds bank. Thank you

jonesMUFCforever

See my reply to you on a seperate thread.

Middle_Sister

I phoned up to open an 8% regular saver and asked them to transfer £500 from my current account and set up a standing order for £250. A week later nothing had been taken from my current account. I rang again and they said there was a backlog and it would be done and interest would be earned from the day I rang. Week later, still nothing. I went into my local branch where they had no record of me wishing to open a regular saver. However, we filled in the paperwork there and then and sure enough the money came out the next day & the SO the day after. I was a bit miffed I'd had to make a special trip to the bank and told them the call centre needs looking at.

Prudent

I opened my account through the call centre and it was very slow.

lipidicman

lesleyfb wrote:

I phoned up to open an 8% regular saver and asked them to transfer £500 from my current account and set up a standing order for £250. A week later nothing had been taken from my current account. I rang again and they said there was a backlog and it would be done and interest would be earned from the day I rang. Week later, still nothing. I went into my local branch where they had no record of me wishing to open a regular saver. However, we filled in the paperwork there and then and sure enough the money came out the next day & the SO the day after. I was a bit miffed I'd had to make a special trip to the bank and told them the call centre needs looking at.

Beware, the call centre will now open an account for you and you will have two, which you are not allowed. You will probably need to go back to the branch to close this account, get your money returned to where it came from etc. You will not be the only person this has happened to

See here: http://forums.moneysavingexpert.com/showpost.html?p=2275883&postcount=211

To reiterate the warning. The call centre will put you in a queue. Branches will have no record of the account until it is opened. If you want an account quickly DO IT IN BRANCH!

System

moneysaving wrote:

hi

can someone plaese fill me in all info requiered to invest in the Lloyds monthly saver account because lloyds website seems to be giving different info from wot martin is giving.


any info will be much appreciated as im am completely lost in this.

many thanx david

Hi David, welcome to the boards. What information in particular do you want to know about the LloydsTsb monthly saver account?