TSB Monthly Saver rate to drop

Coldred

bear with me but i was thinking of opening a TSB Classic interest pus account does that mean if i open one the rate will drop shortly afterwards if they are ending that account?

ceredigion

Coldred wrote: »

bear with me but i was thinking of opening a TSB Classic interest pus account does that mean if i open one the rate will drop shortly afterwards if they are ending that account?

"TSB Classic interest pus". Is there such an account ?
If you mean the Classic plus account, the rate is variable and could drop at any time.

ceredigion

Westie983 wrote: »

I did this today, changed from the 21st, as 12th credit was last month.

Mine is due to mature on the 12th July, the first month (21/07/15) I only paid in £25 as its was the opening transaction and the other 11 months was £250 on the 21st of the month.

I have 'topped' it up with £225, today which makes it up to £3000.00 which is the maximum allowed.

So yes I have paid in 13 payments but not sure if it will make a difference but will just have to wait for maturity on the 12th.

Surely the whole point of making 13 payments is to make the extra one at the beginning of the year

Chaykin

ceredigion wrote: »

Surely the whole point of making 13 payments is to make the extra one at the beginning of the year

The point is that if you e.g. open the account on the 25th of the month, let's say January for this example, pay in £250 same day, subsequently change the SO date to 1st of every month meaning next payment of £250 on 1st of Feb with the 13th payment on 1st of Jan following year for a total of £3,250.00 in the Monthly Saver account. T&Cs - http://www.tsb.co.uk/savings/monthly-saver/monthly-saver-terms-and-conditions.pdf - don't say anything about maximum account balance available.

ceredigion

Chaykin wrote: »

The point is that if you e.g. open the account on the 25th of the month, let's say January for this example, pay in £250 same day, subsequently change the SO date to 1st of every month meaning next payment of £250 on 1st of Feb with the 13th payment on 1st of Jan following year for a total of £3,250.00 in the Monthly Saver account. T&Cs - http://www.tsb.co.uk/savings/monthly-saver/monthly-saver-terms-and-conditions.pdf - don't say anything about maximum account balance available.

Yes and like I said you make the extra payment at the beginning of the year. Read the post I quoted .

ColdIron

Westie983 wrote: »

I have 'topped' it up with £225, today which makes it up to £3000.00 which is the maximum allowed.

No it isn't. I made my 13th payment today and have £3,250 in it. Mine ends in a week or so

Eco_Miser

ceredigion wrote: »

If you mean the Classic plus account, the rate is variable and could drop at any time.

It is, and could; but that 5% rate is the focus of TSB's new advertising campaign, so I think it will be around for quite a while yet.

info_addict

Once the TSB Monthly saver has matured it's a right faff to close the Easy Saver it goes into.

Withdrew my matured saver today (I know Saturday) and rang to close the Easy Saver.

"Sorry we can't close savings accounts over the phone - you have to go into a branch and take photo ID"!!!!!

Yorkshire_Pud

So at 2% if fully subscribed through the tortuous funding regime one can accrue about £32.50 interest after 12 months.

No thanks:)

Kim_13

info_addict wrote: »

Once the TSB Monthly saver has matured it's a right faff to close the Easy Saver it goes into.

Withdrew my matured saver today (I know Saturday) and rang to close the Easy Saver.

"Sorry we can't close savings accounts over the phone - you have to go into a branch and take photo ID"!!!!!

Isn't the minimum Easy Saver balance £1, so they should close it themselves eventually.