Tsb plus account 5%

Beckyy

Is interest paid on a set date, or account anniversary each month please?

KTF

Second working day of the month.

ChopperST

^ Thanks for this was just about to query this with TSB :beer: ^

Beckyy

Lovely, thanks very much!

bsms1147

All should have been paid now; if it hasn't check you met the requirements for the month and that paper statements are switched off (for each account if you have two).

kteara

Hi guys,


does the 5% interest last over 12 months? It doesn't say anything anywhere on the website however, I'm unsure this high percentage could last longer than 12 months? Just wanted to make sure.

Herbalus

kteara wrote: »

Hi guys,


does the 5% interest last over 12 months? It doesn't say anything anywhere on the website however, I'm unsure this high percentage could last longer than 12 months? Just wanted to make sure.

It's ongoing i.e. no end date has been specified.

AbbieCadabra

Herbalus wrote: »

It's ongoing i.e. no end date has been specified.

in this months Which? Magazine it mentions this account & refers to the rate only being for 12 months, as this isn't mentioned anywhere else now, i'll assume it's an error or that it was the info available when they went to print.

Herbalus

AbbieCadabra wrote: »

in this months Which? Magazine it mentions this account & refers to the rate only being for 12 months, as this isn't mentioned anywhere else now, i'll assume it's an error or that it was the info available when they went to print.

TSB say:

Other banks offer high introductory rates, known as ‘teaser rates’, which they take away after their initial period.

See point one on their website:

Nationwide offer 5% on their FlexDirect Account for the first 12 months only, and that is for up to £2500. Maybe therein lies the confusion?

Mr_Goodkat

AbbieCadabra wrote: »

in this months Which? Magazine it mentions this account & refers to the rate only being for 12 months, as this isn't mentioned anywhere else now, i'll assume it's an error or that it was the info available when they went to print.

The article is incorrect.


In all the launch material and on the website TSB make a big thing about them being a different bank and play on that:
1) You don't need to switch to get the 5% interest
2) You don't need direct debits or standing orders to get the interest
3) You don't need a big monthly funding credit (only £500 and internal transfers ok as well)
4) No set expiry date to the 5% interest


Pleased that interest has been credited to my accounts and the whole set up process was very quick and easy. Only using TSB as a savings vehicle and so far so good.


Already skimmed off the interest and done my monthly in and outs for May so shouldn't need to think about TSB again until June.