Where is everyone moving their Lloyds Vantage money to?

adindas

Well, if it is an ISA, it will not be so simple.
Some people has used up all of their ISA allowance.

premierfella wrote: »

http://www.halifax.co.uk/savings/accounts/easy-access/web-saver-reward/

adindas

Yes that is true at the moment. But in june it will drop to 3%.

anna42hmr wrote: »

to be honest, will be leaving the 5k in mine, the extra £2k from each account (as i have the three allowed with 7k in each) will be for 2011/12 isa which i will be opening tomorrow

and then see with the £600 extra left over, but not worring about that, they are still paying the 4% until mid/end june afterall

G_M

psychic_teabag wrote: »

ISTR that one allowed overlapping notice periods. So you don't need to cancel after 5.5 months. You can just give notice every week, and then the money is on instant-access from 6 months on. But I may be thinking of one of the other similar accounts there have been.

Nice idea! Now just need a way to automate the weekly notice.

What happens when the 6 months is up for each notice though (assuming you don't want to withdraw). Do you need to (automate?) cancel each one too?

edit: Just looked at N Rock website. The 5 year (4%) bond seems to have been withdrawn.

zzzLazyDaisy

Thanks for the heads up on this - I hadn't noticed the drop in interest rate for the vantage accounts.

I still have an old Yorkshire Building society regular saver paying 3.75% which allows monthly savings of £500, and doesn't sweep the whole lot out after 12 months like most do. It is also variable so when the interest rates rise, it will track the upward rise.

I don't normally pay the full £500 in, so I reckon I'll start syphoning off my Vantage accounts.

I know this won't help most people, but if you have one of these accounts, it might be worth a look.

Prudent

Thanks for the heads up, as I had missed this one too. I will do the same as lazydaisy as I have one of these Yorkshire accounts too.

partlydave

Biggles wrote: »

Which account is that? The Halifax Direct Reward is their ISA, paying 3%.

you get 3.2% if you have a qualifying account already.

Svenena

I'm currently putting £300 a month into a First Direct regular saver (8%), which is destined for this year's ISA in 11 months, so I'm going to put the remainder of my allowance (£1740) in the that ISA when the Vantage rate drops. Then £5000 from the Vantage account into a Santander first home saver, so that I can put the rest of the money I save each month (up to £300) in there, leaving me with a few £100s in the Vantage account for easy access in emergencies.

mary

zzzLazyDaisy wrote: »

Thanks for the heads up on this - I hadn't noticed the drop in interest rate for the vantage accounts.

I still have an old Yorkshire Building society regular saver paying 3.75% which allows monthly savings of £500, and doesn't sweep the whole lot out after 12 months like most do. It is also variable so when the interest rates rise, it will track the upward rise.

I don't normally pay the full £500 in, so I reckon I'll start syphoning off my Vantage accounts.

I know this won't help most people, but if you have one of these accounts, it might be worth a look.

I've just had a look at this, but I can only find for Issue 2 that it pays 3% including the bonus, so is yours for a pre-existing RS?

Prudent

mary wrote: »

I've just had a look at this, but I can only find for Issue 2 that it pays 3% including the bonus, so is yours for a pre-existing RS?

I think Lazydaisy is talking about issue 1. I also have this account and can confirm it pays 3.75%. I know issue 2 pays less.

zzzLazyDaisy

Prudent wrote: »

I think Lazydaisy is talking about issue 1. I also have this account and can confirm it pays 3.75%. I know issue 2 pays less.

That's the one. There are a lot of higher paying RS's out there, but I kept this one going because of the generous monthly amount you can pay in and the fact that it doesn't clear out annually into some low interest rate account, so it is possible to build up a good sized pot, and still have one withdrawal a year, so it is a good back-up account to have.

I expected them to drop the rate (the T&C's allow this if base rates drop below a certain level) but to their credit they have honoured the deal, and when interest rates start to rise this account will get full benefit. Unless they 'do a lloyds' on us, in which case I'll shift my money.