Lloyds TSB "Standard" Interest Rate with Vantage?

Nine_Lives

Am trying to help my mother with her banking at the moment. That said, she's not interested in money being flitted here & there & various accounts opened.

So onto the Lloyds Vantage.

http://www.lloydstsb.com/rates_and_charges/current_account_rates_curr_page.asp?WT.ac=VIR0609#currentaccountsvantage

Between 5-7k you get the top rate. Anything after 7k, you get the "standard" rate.

What is the standard rate? Is it 0.10%

Just need to double check. If she's only a bit over 7k at the end of it all, then she wont be so bothered, but if she's 1k+ then she may be best going the AA route or opening another Vantage perhaps (she's a non tax payer btw).

On the note of non tax paying, could you get an R85 form to AA with their online account?

scottishblondie

Yup anything over 7k earns interest at 0.1%.

You can fill in an R85 and post it to the AA.

loracan1

K_P83 wrote: »

That said, she's not interested in money being flitted here & there

Bear in mind that to qualify for the higher interest rate she'd need to be funding the account by £1000 a month which sometimes means doing just that - dead easy once you've set it up though.

MoneyStudent

Lloyds TSB are useless, although I guess the 4% is worth it. Went into branch today to open my 2nd vantage account only to be told that I couldn't as it was limited to 1 vantage account per customer. Tomorrow I'll be returning with a printout of their webpage which clearly indicates that 'Customers are limited to a total of 3 Vantage Accounts.'

Nine_Lives

loracan1 wrote: »

Bear in mind that to qualify for the higher interest rate she'd need to be funding the account by £1000 a month which sometimes means doing just that - dead easy once you've set it up though.

Aye but she has a Nationwide & a Lloyds. So she can just switch 1k between the 2.

simonvaughan

MoneyStudent wrote: »

'Customers are limited to a total of 3 Vantage Accounts.'

I'm looking for this page to print off and take with me when I open my accounts, but can't find it.

Can anyone post a link for me?? thanks.

SV

Mikeyorks

simonvaughan wrote: »

I'm looking for this page to print off and take with me when I open my accounts, but can't find it.

2nd sentence on this page :-

http://www.lloydstsb.com/current_accounts/vantage_ts_and_cs.asp