Lloyds 8% Regular Saving ending

ctdctd

Just spotted on the Lloyds site - https://www.lloydstsb.com

It says the Monthly Saver is finishing on March 5th

Hopefully Lloyds (and A&L) will replace with better, faster, newer, shinier versions with a bit more interest!

BSingh

I was thinking of getting this set-up using the drip-feed method... not sure whether to do this before it closes or wait til I see what they replace it with...

capehorn

It was a product intended to bring in customers. If they are ending it I doubt it will be replaced with something better, more likely they've reached their target of new customers.

sashacat

do banks ever have enough customers?

Madiba_2

They probably have managable targets based on branch capacity and back office processing capaacity.

oldfella

It was a product intended to bring in customers. If they are ending it I doubt it will be replaced with something better, more likely they've reached their target of new customers.

---

odd that A&L and Lloyds are stopping their current product, and Barclays increased theirs - all recently ?

something else to happen yet methinks

Mike

john.xs

does this mean as long as ive set up account by march 5th 2007 that i can save until 2009 and recieve 8% or have i missed the boat

Hanxx

As long as you set it up before 5 March you'll be ok.

dan_cup

so with this saver, when open the current account along side it, how much do you need to put in it so they dont get mad, i have a reg saver with hsbc which is where my wages go. would i need to put 500 or so a month into the lloyds current ac?

tomstickland

Max of £500 start up and £250 pcm. Can't remember a minimum, I think it was very low.

Hanxx

No, you shouldn't need to put any surplus cash in it each month. You can pay up to £500 in within the first 7 days as an opening payment, and after that up to £250 a month. When you go into the branch to open it the staff will insist that you set up a direct debit between the Lloyds current account and the reg saver. You need to play along with this, but this can be cancelled at a later date online and replaced by a DD from a different account (non Lloyds) if you like. If you chose not to do this you will only need to fund the Lloyds current acc with what you want to be transferred to the reg saver each month.