Tsb plus account 5%

Herbalus

I suspect they were too busy trying to fix their email (after the Newcastle ISA went in a few minutes) to get the press release into a story before the other news people reported on it!!

Jogle

YorkshireBoy wrote: »

Are you sure? I seem to remember it was £5,000-£6,000

No, it was originally £5-7,000, on the same terms as the current offer (ie. £1,000 deposit per month and no need for Direct Debits). That tier was then removed (I can't remember when). In October 2012 they introduced the £5-6,000 tier but that required two Direct Debits

YorkshireBoy

Jogle wrote: »

No, it was originally £5-7,000, on the same terms as the current offer (ie. £1,000 deposit per month and no need for Direct Debits). That tier was then removed (I can't remember when). In October 2012 they introduced the £5-6,000 tier but that required two Direct Debits

I was responding to post #17, which said...


"It first paid 4% on £5,000-£7,000, but this upper tier was later removed."


...because I thought it paid 4% on £5-6K during the 2012-13 special offer (which I enjoyed).


In my original post (on pure rates) I made no reference to the tiers. That was introduced later by others.

typistretired

According to Savings Champion 30th of March 2014 is the date this new account is launched.


Savings Champion Rate Alert for Thursday 13th March

TSB is launching a new account on 30th March which pays 5% AER interest on balances up to £2,000.

apt

Unlikely, as 30 March is a Sunday.

financialbliss

Also got Savings champion email advising of 30th March.

From this is money:

"It will be open for online and over the phone sign-ups from March 30 and in branch the following day."

http://www.thisismoney.co.uk/money/saving/article-2579080/TSB-launches-new-current-account-paying-5-cent-interest.html

FB.

anna42hmr

wonder if they will allow me to get a couple of these as have three enhance accounts already and don't want to convert them to the new product as higher balances allowed for interest in those, so will be interesting to see if i can get this as well?

MABLE

I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.

Herbalus

MABLE wrote: »

I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.

Lloyds also have a new account that will be available around that time, but nobody knows what all the details are yet. I've heard that it will have a monthly funding requirement of £1500 (with a £5 fee if not met), and "preferential" things, whatever that means.

I'm not sure if this means loads of customers will leave Lloyds for TSB. For those saving in Lloyds, they'd only be able to move £4000, which is less than one Vantage account. For normal banking customers, the Nationwide 5% has been advertised for a long time, so presumably those who would've jumped might have already done so.

I do like the fact that interest rates on current accounts seem to be increasing though - very counter to what we might expect considering how savings are getting lower and lower.

DragonQ

MABLE wrote: »

I am hoping Lloyds Bank will now review their Vantage account interest rate. Surely they do not want loads of customer leaving them to go to TSB.

I'll be taking a trip to the TSB branch in town once these Plus accounts are open, unless Lloyds do a similar thing and I can just convert my Vantage accounts.