what rate does the current 4pc on vantage come in

de1amo

i am tinkering with the numerous vantage accounts i have and was looking to spread the cash out between them so i receive the top 4pc rate on as much cash as i can--i know they are ending in june but best make hay!!

Baldur

de1amo wrote: »

i am tinkering with the numerous vantage accounts i have and was looking to spread the cash out between them so i receive the top 4pc rate on as much cash as i can--i know they are ending in june but best make hay!!

From £5,000 to £7,000 - see http://www.lloydstsb.com/current_accounts/vantage.asp

de1amo

thanks very much--its knowing where to look in this world!--i find lloyds are very good at hiding relevant info about interest rates on their accounts!

ChiefGrasscutter

Well your for your future information on how to do this.

I've just put in the text "lloyds vantage account interest rates"
into google.co.uk
and the first result shown is a page from Lloyds that gives a link to the interest rate tiers page.
The Second result is indeed the interest rate tiers page from lloyds and is the one linked to from the first result page.

Easy

System

They are not really tiered rates, because if you have a balance higher than one of the threshhold points, you get the higher interest on the WHOLE balance, not just the tier.

But the 4% band is due to be abolished in a few months time.

opinions4u

de1amo wrote: »

thanks very much--its knowing where to look in this world!--i find lloyds are very good at hiding relevant info about interest rates on their accounts!

Go to their web site.

Click on "current accounts".

Click on "classic account".

Click on "interest rates".

Hidden? Don't think so. There's even a link telling you what's happening to the rates from 27th June.

System

But it doesn't say what will happen to balances between £5000 and £7,000 after 27 June. It simply repeats that they do not pay interest on balances over £7,000. You would have thought they would lower it to £5,000, but it doesn't say that.

opinions4u

Clifford_Pope wrote: »

But it doesn't say what will happen to balances between £5000 and £7,000 after 27 June. It simply repeats that they do not pay interest on balances over £7,000. You would have thought they would lower it to £5,000, but it doesn't say that.

A fine spot young man! :T

ChiefGrasscutter

Sigh,
Extract from a lloyds press release found by yes again using google

"Customers with lower balances will see a jump in rate from 0.1 per cent to 1.5 per cent. As of June 27, there will be three interest rate tiers (instead of four). The tiered rates for balances between £1-3k earning 2 per cent and balances between £3-£5k earning 3 per cent will remain the same. The top tier rate of 4 per cent on balances over £5k will be removed"

My intrepretation is quite clear.
Any sums over £5000 will earn zilch - as in zero percent: as indeed any sum under the current interest rate tiers over £7000 earns zilch.

Here is the link to the release
http://www.e-banking.co.uk/news/2011/Mar/lloyds-tsb-is-to-change-the-interest-rates-on-its-vantage-current-account-97043332.html

Biggles

Clifford_Pope wrote: »

But it doesn't say what will happen to balances between £5000 and £7,000 after 27 June. It simply repeats that they do not pay interest on balances over £7,000. You would have thought they would lower it to £5,000, but it doesn't say that.

What they have done is just stick in a panel with the 27 Jun interest rates into the existing web page.

All the other text, above and below, refers to the current rates.

The interest clearly stops at £5,000 on 27 Jun, just as it stops at £7,000 now.