TSB Monthly Saver rate to drop

colsten

Kim_13 wrote: »

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

You can only open it with at least £1 but there's no minimum balance subsequently. They don't close the account for you. I have two Easy Savers with a Nil balance - one from a couple of years ago, and one from this week. I just ignore them.

karlie88

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"!!!!!

I phoned to say I wanted to close mine. They sent a form out with a pre-paid envelope. Filled in account numbers and sort codes, accounts were closed and no longer visible on my online banking 2 days later.

Really depends on who you get through to.

info_addict

Nope, tried again and still can't close over the phone. Told them my "friend" had a form sent which was completed and sent back. But they checked and say they can do this for closure of current accounts but not savings - go figure?

Have to go into branch or send in a letter to close it

NYGiants

info_addict wrote: »

Told them my "friend"..

planteria

indeed.. no thanks when my 5%er matures this month.
no matter though.. HSBC, M&S, Nationwide and Lloyds all still running along.

it has turned out exactly as i shared..

http://www.tsb.co.uk/savings/instant-access/

Monthly Saver
2.00% AER/gross fixed for 12 months
Interest is paid on maturity
Instant access
Interest paid on balances over £1
Save from a minimum of £25 to a maximum of £250 by standing order each month

chris9393

Apologies if this has already been asnwered but my Monthly Saver is due to end this month. Will I still get the 5% interest as that's how it stood when I opened the account at the time or will it of decreased to 2% interested?

Crag30

You'll get 5%

MARTYM8`

chris9393 wrote: »

Apologies if this has already been asnwered but my Monthly Saver is due to end this month. Will I still get the 5% interest as that's how it stood when I opened the account at the time or will it of decreased to 2% interested?

You will get 5% for your existing monthly saver until it matures later this month.

If you open another one after maturity you will only get 2% for the new account.

Maximum_Saving

I have a TSB Monthly Saver which is due to end around the end of November 2016. It has an interest rate of 5%. I am annoyed if I take out another the interest rate will be 2%. I am trying to pay off my mortgage and rely on high interest savings. Even high interest current accounts have their interest rates going down which also bothers me a great deal.

YorkshireBoy

Maximum_Saving wrote: »

I have a TSB Monthly Saver which is due to end around the end of November 2016. It has an interest rate of 5%. I am annoyed if I take out another the interest rate will be 2%. I am trying to pay off my mortgage and rely on high interest savings. Even high interest current accounts have their interest rates going down which also bothers me a great deal.

If you've a lot of savings have you considered switching to an offset product?