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Club Lloyds Monthly Saver Interest Rate
Birdman2015
Posts: 252 Forumite
I recently opened a Club Lloyds account and took out the Regular Monthly Saver account with an advertised rate of 4%.
On logging into my account the interest rate stated is only 0.25%. I know the interest is added at the end of the year but is there any reason they have the rate applied so low?
On logging into my account the interest rate stated is only 0.25%. I know the interest is added at the end of the year but is there any reason they have the rate applied so low?
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Comments
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Lucky you, at least yours shows 0.25%! Mine, which matures end of the month, says "% gross interest rate
For information on your interest rate, please visit our savings website."
Seems they are in a bit of a mess, but I am quite relaxed that they will pay the advertised 4%. Nonetheless, I'd take it up with them if I were you.0 -
I wonder if you've inadvertently opened a "Club Lloyds Saver", which does indeed pay 0.25% AER on balances from £1-1,499...
http://www.lloydsbank.com/rates/savings/club-lloyds-saver.asp
The good news is that once you get to £1,500+ you'll get 0.6% AER.
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The email I received after applying stated I had opened a Club Lloyds Saver (Annual).
Looks like I have indeed opened the wrong account.:o0 -
At least you've found the problem so you can go ahead and open the Monthly saver and benefit from the 4% afterall.
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