Lloyds TSB regular saver.

steveh2001

So the monthy payment is done by calander month, not by opening date?

Dont quite understand :S

metrobus

http://www.lloydstsb.com/savings/monthly_saver.asp

here is a link steve.

YorkshireBoy

steveh2001 wrote:

So the monthy payment is done by calander month, not by opening date?

Yes, it's by calendar month. You are allowed to deposit £500 within 7 days of opening the account. Your first SO must be made within 30 days of opening the account (you just make it within 7 - or less ). As I said earlier, you then change the date to get another payment in at the start of the following month - and thereafter.

Dont quite understand :S

Have you read the Monthly Saver Important Information?

steveh2001

EXcellent - thanks for your help guys - will print off the T's and C's and give them a good read.

carisso

I don't know how to start a new thread, so hope this isn't out of order to start here.

We have just sold our house, the house we're buying has fallen through so we have the funds from our sale to invest for a short [I hope] time until we find another place to live.

Where can we put the money so it will earn a decent rate of interest? We could leave it in our bank [Barclays] but I'm sure there are better places.
All advice welcomed!

sloughflint

Hi Carisso,
Go to the Savings main page and look at the line with all the page numbers near the top. Go left and there is a blue new thread icon which you can click on.

BSingh

Tom, this is my question:

what I am trying to compare against is the following:
e.g.
Transfer £250 from another savings account (e.g. IceSave, HiSave, etc) via standing order. This will take 3 working days. So you will lose 3 days interest per month.,,, maybe more when you consider that sometimes the 1st, 2nd or 3rd of the month falls on a weekend (so if you transfer money on the 1st Friday... it wont get there until the 5th of the month which is the Tuesday as the 2nd and 3rd are saturdays and sundays!)

or....

like i said before...just use the lloyds online saver?

What is better?

Thank you

tom188

Calculate the interest lost.
((Time in account-Transfer Time)/365*Rate of High Payer - Time in account/365*Rate in online saver)*Amount

If your looking at a loss, as can happen in the short term stick it in the online saver.

Much more than two months and the higher rate usually cancels out the lost interest in transfer.

BSingh

Thanks for that Tom... i need to play around with some figures and things and see what the best solution is using the formula you have provided

steveh2001

Just opened mine today All opened fine - again they said you would need £500 odd to keep it active...

The guy put my £500 deposit into the current, and then straight into the saver so thats this month covered - how is everyone else keeping their current account active?>

I thought each month I could take £100 out of my normal account, pay it into the lloyds current, and then leave it overnight, and withdraw it the next day?

Any ideas? Is £100 enough?