Lloyds Classic Vantage stopping 4%

LittleVoice

Ryan101 wrote: »

This might sound stupid, but I have 7k in my vantage account, so with the new rates will I get 3% on my 7k, or will I only get 3% up to 5k and take the 2k out and put it elsewhere as I would get no interest on the 2k if I left it in vantage ?.

Just as you get no interest on any amount above the £7K now, you won't get any interest on any sum above the £5K mark after the change in June. So, yes, on 27 June take out the excess £2K as it is of no benefit to you there.

bubieyehyeh

I wonder if Lloyds faster payements will break on 27th with people moving multiples of £2000 out.

10_66

bubieyehyeh wrote: »

I wonder if Lloyds faster payements will break on 27th with people moving multiples of £2000 out.

Yeah, probably!

trisha

Is it worth taking out 3 accounts at 5k or thereabouts paying 3% ? how much roughly as non tax payers could we expect from them a month ?

Our savings are earning 0.5% at the moment we had decided on the Vantage 7k ones but now that has gone pear shaped so we are having a re-think, we have opened 3 reward savers at Halifax and moved the main current account there, so we have one joint and one each single now. But what to do with the other savings without tying them all up in a bond we can't decide

noh

how much roughly as non tax payers could we expect from them a month ?

£37.50 gross total per month, on average, for three accounts with £5000 in each at 3%.

Consumerist

trisha wrote: »

Is it worth taking out 3 accounts at 5k or thereabouts paying 3% ? how much roughly as non tax payers could we expect from them a month ?

Our savings are earning 0.5% at the moment we had decided on the Vantage 7k ones but now that has gone pear shaped so we are having a re-think, we have opened 3 reward savers at Halifax and moved the main current account there, so we have one joint and one each single now. But what to do with the other savings without tying them all up in a bond we can't decide

Halifax have just launched the Web Saver Reward account paying 3% to Reward current account customers on all balances from £1.

AndyJ52

trisha wrote: »

Is it worth taking out 3 accounts at 5k or thereabouts paying 3% ? how much roughly as non tax payers could we expect from them a month ?

Our savings are earning 0.5% at the moment we had decided on the Vantage 7k ones but now that has gone pear shaped so we are having a re-think, we have opened 3 reward savers at Halifax and moved the main current account there, so we have one joint and one each single now. But what to do with the other savings without tying them all up in a bond we can't decide

Have you considered the Nationwide's 'MySave' Account.
Pays 3.05% AER - minimum deposit is £1K.
Interest 'paid away' to nominated account.

10_66

AndyJ52 wrote: »

Have you considered the Nationwide's 'MySave' Account.
Pays 3.05% AER - minimum deposit is £1K.
Interest 'paid away' to nominated account.

You can only make one penalty free withdrawal during a 12 month period.

trisha

AndyJ52 wrote: »

Have you considered the Nationwide's 'MySave' Account.
Pays 3.05% AER - minimum deposit is £1K.
Interest 'paid away' to nominated account.

We are with Nationwide e savings just checked the interest:

• competitive interest rate of 0.45% gross p.a./AER*
  

Who can compete with that I wonder ;-)
I had looked at the MY Save A/C not sure about it, it means tying it up, thank's for the info though :-)

Trisha

10_66

Just as another option, ING DIRECT have a savings account offering 3% for new customers.