Club Lloyds Monthly saver approaching 12 months

ffacoffipawb

bowlhead99 wrote: »

"You must pay in money by standing order each month. The amount you pay in each month is limited. "

They set up my SO for the 27th of the month. Presumably I am still earning interest on this.

colsten

kar999 wrote: »

It also appears that I'm being prevented from applying online for a new Club Saver as my old one hasn't matured yet.

This is not unusual. Literally all regular/monthly saver providers will not allow more than one concurrent regular/monthly savings account.

As and when your existing Club Saver account has migrated to its successor account, you will be able to apply for whatever regular saver accounts Lloyds will offer at that time.

kar999 wrote: »

anyone want to bet on it being less than 4% after the 1st April??

Hey, I wish they (the banks) never stopped offering 11% savings accounts. But we all know why they didn't and couldn't. But there's no reason to expect Lloyds will drop the rate of their monthly saver account just because it is April 1.

colsten

ffacoffipawb wrote: »

They set up my SO for the 27th of the month. Presumably I am still earning interest on this.

You set up SOs, not the bank or anyone else. You can set up your SO on which ever day of the month suits you best.

kar999

colsten wrote: »

.... But there's no reason to expect Lloyds will drop the rate of their monthly saver account just because it is April 1.

I can't see it staying at that rate forever... only last year they halved the Vantage rate and reduced its 3 X £5k @ 3% down to 1 x £5k @4%

It's just the old cynic in me.... ... and the relentless letters that keep dropping through my letterbox/inbox telling me that the rate on my XYZ savings account will reduce by 0.25% yet again towards sweet FA.

Having maxed out all the best-buy rates finding a decent home for my matured £4800 plus interest is increasingly difficult and will probably head into my S&S ISA.