Lloyds Incentive Saver???

ian-d

I have a Lloyds Incentive Saver account with 2.4% net interest. I was just wanting to check the interest level and cannot find it on the Lloyds site.

Does anyone know if it has been discontinued? If so, will I still gain the same rate forever, or will be change? I've had no phone call or letter regarding this!

rb10

http://www.lloydstsb.com/rates_and_charges/savings/incentive_saver.asp

Keep an eye on that page, as they may reduce the rate without personally notifying you.

mooch

Yes, it has been discontinued. I called LTSB today to confirm as I wanted to open one for my wife.

SalsaDanca

Here's an extract from one of the documents I downloaded when I applied for my Incentive Saver account:

4. CLOSING YOUR ACCOUNT
4.1 Your Account will end on the first anniversary of opening the Account and we will convert it into an Easy Saver (or similar account if the Easy Saver is no longer available). Your account number will remain the same. You can close this Account at any time without losing the interest you have already earned.

I'm sure you won't be surprised to learn that the Easy Saver has a dreadful interest rate - it's currently 0.1%. Make a note in your diary to remind you to move your money when the interest rate drops!