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Club lloyds
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savingNoob
Posts: 2 Newbie
Am I being thick (please don't answer that) but wouldn't my £5000 ISA (currently at 2.25%) be better sat in a club lloyds account (for example) as they are offering 4% on balances up to £5000
Any ideas / suggestions would be helpful
Any ideas / suggestions would be helpful
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Comments
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savingNoob wrote: »Am I being thick (please don't answer that) but wouldn't my £5000 ISA (currently at 2.25%) be better sat in a club lloyds account (for example) as they are offering 4% on balances up to £5000
Any ideas / suggestions would be helpful
If you don't have other funds to put in the Club Lloyds (so you earn there as well as in the ISA) and you aren't paying tax at 45%, then your nett income from the £5K would be better in the Club Lloyds.
However, it also depends on your view of needing to protect that £5K from being subject to tax in the future.0 -
yes, i work it out as earning 3.2% after tax0
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you can put it in llodys club to get better interest and put it back in a isa account just before April next year as the amount you can put in a isa goes up to £15000 in July this year.0
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savingNoob wrote: »Am I being thick (please don't answer that) but wouldn't my £5000 ISA (currently at 2.25%) be better sat in a club lloyds account (for example) as they are offering 4% on balances up to £5000
Any ideas / suggestions would be helpful
Why Club Lloyds?
Use TSB and you'd get 5% on £4000 and can then use Nationwide for another £2500.
No point using an ISA at all for that amount.Remember the saying: if it looks too good to be true it almost certainly is.0 -
you can put it in llodys club to get better interest and put it back in a isa account just before April next year as the amount you can put in a isa goes up to £15000 in July this year.Eco Miser
Saving money for well over half a century0 -
Thank you very much guys thats a great help0
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