Lloyds TSB tracker bond

frames1_uk

Just had a call from my bank as my matured Kent Reliance bond had entered my account, £29K. The bank (lloyds TSB) suggested their 18 month Tracker Bond at 3.25% (gross) 2.75% above base rate. Obviously can go up or down. Only one deposit allowed, no withdrawals.

I have 2 Vantage accounts already and have used up my ISA allowance.

Am sure there are better products around, but for simplicity, should I go for the tracker?

Thanks

opinions4u

I'd suggest the AA 1 year fix at 3.60% ahead of it.

Jock_Tight

If you were looking to lock away for a bit longer C&G have a 3 year step bond offering fixed rates. year 1: 3.75%, year 2: 4.25%, year 3: 4.75%

ctdctd

frames1_uk wrote: »

Just had a call from my bank as my matured Kent Reliance bond had entered my account, £29K. The bank (lloyds TSB) suggested their 18 month Tracker Bond at 3.25% (gross) 2.75% above base rate. Obviously can go up or down. Only one deposit allowed, no withdrawals.

I have 2 Vantage accounts already and have used up my ISA allowance.

Am sure there are better products around, but for simplicity, should I go for the tracker?

Thanks

If you want easy and flexible, sign up for their eSavings account.
1 year bonus gives total of 2.5% above 10K. Not the best but very easy and instant access if you need it. Sign up from Internet banking in a few clicks.

HTH

calypso_rhapsody

Thanks Jock for drawing my attention to that product .. i see that withdrawals are permitted with a penalty of 120 days interest at the year one rate ... ie 1.23% of the amount withdrawn. Looks like i may have found a home for my Progressive bond that matures tomorrow!

Jock_Tight

calypso_rhapsody wrote: »

Thanks Jock for drawing my attention to that product .. i see that withdrawals are permitted with a penalty of 120 days interest at the year one rate ... ie 1.23% of the amount withdrawn. Looks like i may have found a home for my Progressive bond that matures tomorrow!

No probs.

The average of 4.25% over the term and small penalty if you need to get some out looked good. Its where some of my money is now

Mee

I note that the KR 3.60% 1 year bond is back. Applied for it at the weekend.

frames1_uk

thanks, am going to go for the AA 1 year fix, I should have just left it in KR, didn't realise their fix was so competitive.

calypso_rhapsody

Should have logged earlier - just done the sums to work out that the C&G stepped bond 4.25% average rate as Jock said this morning! The only problem i've indentified so far is that it has to be applied for by post or in branch - you can't even print out the form from the website! I thought the Yorkshire application process was pretty prehistoric. Yorkshire is paying 4.3% for 3 years but no get out clause .... but am unlikey to want out unless interest rates soar! Is there a flying pig available?