Life after LTSB Vantage

KTF

I also put mine into the NS&I tracker and am thinking about putting the rest in the Santander Loyalty tracker as that is slightly higher than instant access accounts and may rise if the BoE rate goes up.

As the min investment is 10k, then after 3 months you can also open a Santander Zero account as well.

mrs_T

innovate wrote: »

Saw an interesting article in Saturday's Times - - Lloyds are offering some Vantage customers what the Times call a "secret" instant access savings account paying 3%.

After 23 mins on the phone, referring to the Times article several times, I now got myself one of these "secret" accounts. It is true instant access, no notice period at all, 3% for one year, up to 50K. Will revert to "EasySaver" (currently 1.6%) at the end of the 12 months.

I will leave 5K in my Vantage accounts, and probably make full use of the 'secret' account for the next year.

Have scanned the Times article and put it on the web - bit messy since I had to scan it in 2 parts
Part 1
Part 2

I had to remind the Lloyds person I spoke to that the Times article quotes a Lloyds spokesman saying "Any Vantage customer who requests the Incentive Saver product through our telephone service is eligible for the product".

I called 0845 602 2406 - you get the normal key this, key that spiel but eventually can speak to a real person.

If I have £15k to deposit is this a better deal than 3 vantage accounts with £5k in each after the rates change on 27th of June?

adindas

£7500 go to NS&I the rest £7500 will go into another NS&I in a few weeks time ....

old_grouser

Thanks - I phoned the number, and was set up with an Incentive Saver account within ten minutes, with no haggling. Interestingly, my local Lloyds branch couldn't make this happen, though they did try. Was I just lucky?
3% is better than a slap round the face with a wet fish, but it's likely that most of the money that Lloyds is 'liberating' from my Vantage accounts will go into solar panels, at something more like 9% Index Linked and Tax Free (though not exactly instant access!).

TheMatrix_2

mrs_T wrote: »

If I have £15k to deposit is this a better deal than 3 vantage accounts with £5k in each after the rates change on 27th of June?

It saves jumping through the hoops to float £1,000 a month through all the vantage accounts as it can all go in one place at the same rate of interest. And it's not sitting in a current account, which is better in a way.

10_66

I opened an Incentive Saver just in case I wanted to move excess funds to it after 27 June (not so relevant now as I put £15K in Index Linked Saving Certificates anyway). However, I've considered moving the funds from the Vantage accounts to the Incentive Saver to cut out the hassle of the monthly recycling of the £1K through 7 accounts (14 as I do OH's as well ). My only thought against that would be, are LTSB likely to want to close the Vantage accounts if they're inactive with only £1 left in them, as I might want to move the funds back to them on the anniversary of the Incentive Saver (assuming nothing else comes along in the meantime).

m0n3y_3

I happened to be passing a large High Street L-TSB today so I popped in and asked about the "Incentive Saver", and nobody had heard of it! I explained they could google a copy of the letter on this forum and they said sorry no internet access.

mrs_T

old_grouser wrote: »

Thanks - I phoned the number, and was set up with an Incentive Saver account within ten minutes, with no haggling. Interestingly, my local Lloyds branch couldn't make this happen, though they did try. Was I just lucky?
3% is better than a slap round the face with a wet fish, but it's likely that most of the money that Lloyds is 'liberating' from my Vantage accounts will go into solar panels, at something more like 9% Index Linked and Tax Free (though not exactly instant access!).

Got mine after a 10 minute phone call, definitely easier than cycling £1000 through 3 accounts every month.

10_66

TheMatrix wrote: »

It saves jumping through the hoops to float £1,000 a month through all the vantage accounts as it can all go in one place at the same rate of interest...

mrs_T wrote: »

Got mine after a 10 minute phone call, definitely easier than cycling £1000 through 3 accounts every month.

Just a reminder, for anyone, that the Incentive Saver drops to an Easy Saver after 12 months.

fitzroy

Reading some of the posts in this thread, have I misunderstood what's happening on 27 June? I've 3 vantage a/cs each with £7k and I was planning to move the excess and leave £5k in each a/c at 4%. Is the 4% rate changing as well?