Lloyds two year 8% regular saver (withdrawn March)

[Deleted User]

Have any MSE's received their first year's interest yet?

Geoffo_M

This should occur exactly one year after opening the account. But just as important is the fact that it is then converted to a Lloyd's Guaranteed Tracker, which pays only a maximum of 3.90%. Also the standing order continues. So they are obviously hoping that most customers just forget to close their new account. Sneaky!

Geoff

johnmoney05

Geoffo_M wrote: »

This should occur exactly one year after opening the account. But just as important is the fact that it is then converted to a Lloyd's Guaranteed Tracker, which pays only a maximum of 3.90%. Also the standing order continues. So they are obviously hoping that most customers just forget to close their new account. Sneaky!

Geoff

You sure?
I thought it would continue to stay in the regular saving account for another year? It is called 2 years regular saving account.

[Deleted User]

johnmoney05 wrote: »

You sure?
I thought it would continue to stay in the regular saving account for another year? It is called 2 years regular saving account.

So did I. Is Geoffo thinking of the one year account?

Kazza242

Deleted_User wrote: »

Have any MSE's received their first year's interest yet?

Interest isn't credited until the anniversary of account opening. As LTSB launched the monthly saver on 22nd May 2006, no customers will have received interest yet.

[Deleted User]

Kazza242 wrote: »

Interest isn't credited until the anniversary of account opening. As LTSB launched the monthly saver on 22nd May 2006, no customers will have received interest yet.

OK. Opened mine in June, but knew it was available before then.

Geoffo_M

johnmoney05 wrote: »

You sure?
I thought it would continue to stay in the regular saving account for another year? It is called 2 years regular saving account.

I think you are possibly right. I got the information from their website today, and, of course, if the account we are talking about closed in March, then it doesn't make sense to have it on their current website. Thanks for the correction.

Geoff

Kez100

I opened mine eight months ago using all the maximums - no interest yet. You can see it online so it's pretty easy to remember to close. Mine is 8% for two years and if not closed reverts to a tracker account. I'm not interested in that, just interested in getting my 8% (well just over 6% net).

I'm using it for mortgage overpayment so really I am getting close to closing anyway. Certainly will if the rate goes up.

sly_dog_jonah

My anniversary is 5th June (opened with £500 on 5th June and £250 SO on the 8th in the first month, 1st working day of the month thereafter), I'm expecting net interest of £137.64, and another £339.62 a year later if I continue with the SO at the full rate.

Thomas_Crown

Geoffo_M wrote: »

I think you are possibly right. I got the information from their website today, and, of course, if the account we are talking about closed in March, then it doesn't make sense to have it on their current website. Thanks for the correction.

Geoff

LTSB scrapped the 2 year Regular Saver account in March & then shortly after introduced the 1 year account & that is the one that is on their website.

jinkssick

How do I check if I got the 2 year or 1 year one because I only see a SO come out each month. I applied in sep 06. I would have guessed it is two years and I hope so.