Tsb plus account 5%

ColdIron

Sounds like the older defunct Lloyds Plus account carried over to TSB

ffacoffipawb

ColdIron wrote: »

Sounds like the older defunct Lloyds Plus account carried over to TSB

No its definitely the new one - mentions paperless and £2,000 balance and £500 monthly funding.


Still showing as Vantage, but the upgrade to Plus no longer appears.

MABLE

I have now opened a TSB account and deposited £2000 today. Whilst I was on their site I tried out their loan rates. For me it came up with 29.9%. When I went on to Lloyds site whom I have banked with for years it quoted me 4.9 percent for the same amount.

I queried this with TSB today and they said because we have no history of how you run your account this is why they rate is so high and also would not consider any form of borrowing until you are established with us.

Apparently they are running completely independently to Lloyds Bank now.

Gromitt

patsyanne wrote: »

Also don't forget to cream off your interest each month as you will not receive interest on anything over £2000.

Yes, cream off the £8 odd that you'll get each month and put it in a 4% regular saver account. At the end of 12 months, assuming you pay no tax whatsoever, you'll make a profit on the interest of £2.15, before tax.

For anyone on basic rate tax, this would be about £1.38 as you need to calculate it on both this account and the regular saver.

I know this is MSE, but is it really worth it?

billchecker1

Is it OK to open up two at once or will they then send me two different IDs?


Should I just open one, wait for the post then open up another?

karlie88

Gromitt wrote: »

Yes, cream off the £8 odd that you'll get each month and put it in a 4% regular saver account. At the end of 12 months, assuming you pay no tax whatsoever, you'll make a profit on the interest of £2.15, before tax.

For anyone on basic rate tax, this would be about £1.38 as you need to calculate it on both this account and the regular saver.

I know this is MSE, but is it really worth it?

Personally, yes it is worth it.

Especially if:

1. You have 2 accounts (which most of us will have); therefore your quoted amounts can be doubled in value.

2. You put the money into FD's 6% regular saver instead.

Creaming the interest off manually every month will take me 1 minute for both accounts; therefore, for about 12 minutes of work annually I can earn about 4 quid.

Enough to buy 400 1p items from Tesco.

moneysavinggirl40

please can someone answer this question? and also how many classic plus accounts can i open? what is the best way to open the second?

KTF

Two.

Apply online for the second the same way you did for the first.

YorkshireBoy

moneysavinggirl40 wrote: »

please can someone answer this question?

No........


That's the answer to your first question (in the title box) by the way...not a refusal. the answer

moneysavinggirl40

were the pin and activation code separate envelopes, i got my pin but not activation code yet