Lloyds TSB Vantage

Wobblydeb

Sorry if this question has been asked before, but I cannot find an answer to my particular question.

When setting up the Lloyds TSB Vantage accounts what happens with the interest taking the balance over the £7k limit?

Can you arrange for the interest to be paid elsewhere or do you need to log on and transfer it the same day it is paid in?

Or...... can you leave it there and still earn 4%?

Thanks!

Michael_Corleone

I believe that anything over 7K earns 0.1%, so it would be best to move it out.

noh

If you leave it there you still earn 4% on the £7000 balance and 0.1% on the excess.
If you want to move the interest you will have to do so yourself via internet or telephone banking.

savetilibleed

If you look in the Vantage Terms and Conditions http://www.lloydstsb.com/current_accounts/vantage_ts_and_cs.asp
then click the 'Lloyds TSB Current account rates' link, you will see where it states what interest you get over £7000 a few lines under the table.

easymoney1964

Can anyone confirm if the interest Falls after the 1 year period.

noh

easymoney1964 wrote: »

Can anyone confirm if the interest Falls after the 1 year period.

There is no one year period.
The interest rate is variable and can be changed at any time.

scottishblondie

The interest rate is ongoing, it will not fall after 1 year. However it is also not fixed, so it could change at any time.

Wobblydeb

Big thumbs up to Lloyds TSB, where a friendly chap at the branch opened all 3 accounts for me in pretty quick time and with a smile :T

maximise

Wobblydeb wrote: »

Big thumbs up to Lloyds TSB, where a friendly chap at the branch opened all 3 accounts for me in pretty quick time and with a smile :T

Only going by your name, maybe he just liked what he saw!