Loughborough BS 8% Regular Saver

exel1966

My account matures on 19/03/09 so have just spoken to LBS head office to confirm the procedure for account maturity.
Approx 3 weeks before maturity a form should be sent out to account holders advising of the options - whether to continue at lower rates or transfer funds to another LBS account or close the account.
BACS payments out are not possible to non-LBS accounts, CHAPS are possible for £30 (so that's a no no), cheques can be posted to account holders or if you bank with Lloyds ONLY they will deposit the cheque themselves into your account at their local Lloyds branch if you notify them the destination account details.

kanchhelskis

fanks for that, does anybody know how much intrest that they will be getting in year 2 from this account?

thanks in advance.

RayWolfe

Doesn't that rather depend?

oldfella

fanks for that, does anybody know how much intrest that they will be getting in year 2 from this account?

---

I asked them a few weeks ago and assuming you put in £250 per month it was around £320 gross. Rates gone down since then so a little less.

ctdctd

exel1966 wrote: »

My account matures on 19/03/09 so have just spoken to LBS head office to confirm the procedure for account maturity.
Approx 3 weeks before maturity a form should be sent out to account holders advising of the options.

Anyone had this letter yet and if so, what were the rate options?
Mine matures on the 15th and no letter yet

oldfella

Anyone had this letter yet and if so, what were the rate options?
Mine matures on the 15th and no letter yet

---

the rate is bound to collapse - send them a letter along with your account book telling them to close it once interest is paid

Careful_ly

I have had the letter today.
The account does not actually mature, as its an ongoing account everyone will have their own anniversary date depending on date opened.

On this account is an interest bonus amount which is currently 2.5% over base, this expires on 31st March according to my letter.

The new bonus amount is 1% over base for 1 year from 1st April.
So will pay 2% from 1st April as long as there is not another cut in March.

I will be closing mine.

kanchhelskis

me 2, they should have come out with a better rate, people that have saved the maximum will have over 6 grand in there account.

bristolleedsfan

kanchhelskis wrote: »

, people that have saved the maximum will have over 6 grand in there account.

Some people have 2 or 3 accounts.

kanchhelskis

nice one lol. shud get a bit of intrest on them accounts then, nicely played.