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TSB Cut child rate from 3% to 1%

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AntoMac Posts: 2,647 Forumite

30 September 2015 at 7:56PM in Savings & investments

My 12 y/o showed me a 'boring' letter she received from TSB the other day.

Interest rate on their Young Saver is being cut from 3 per cent to 1 per cent.
I went through what it meant and got her to work out how much less interest she would receive on her £1700 following the cut. Quite painful to explain to her as not something she sees as particularly exciting but hopefully worthwhile in the long run a good way of educating her about money.
We're off to Lloyds where they still offer 3 per cent on their child accounts.

Anyway, just thought worth mentioning in case anyone else has missed or overlooked the notification as I'm as guilty as anyone of 'filing' Bank correspondence .

27/5/17 Mort 64705 BTs 1904031/12/17 Mort 59815 BT 1673007/04/20 Mort 49208 BT 1572128/07/20 Mort 47387 BT 1263414/11/20 Mort 45905 BT 10134 20/05/21 Mort 42335 BT 686811/08/22 Mort 32050 BT 2915Sealed Pot Challenge 16 Number 5

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TSB Cut child rate from 3% to 1%

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