Lloyds and Halifax interest rates and rewards under review after Santander 123 cut

cheesetoast

Seeing as Lloyds already cut the Club Regular Saver from 4% to 3%, I'd not be surprised one bit if the current account interest went the same way, and maybe even dropping the maximum balance on which interest is paid from £5000 to £3000.

DragonQ

cheesetoast wrote: »

Seeing as Lloyds already cut the Club Regular Saver from 4% to 3%, I'd not be surprised one bit if the current account interest went the same way, and maybe even dropping the maximum balance on which interest is paid from £5000 to £3000.

I still use Club Lloyds as my main account for doing standing orders for my DDs but if it drops to 3% I'll probably move them. I'll still keep the account for the annual freebie though (assuming that stays).

MotheroftheKid

Had a letter yesterday that Nationwide are dropping most of their saving rates by 0.25%

Gordon_the_Moron

I'm surprised the Halifax account is under threat, for people using it as their actual current acount it's a pretty crap 'perk'

Expect the rate to drop to 3% at least on Club Lloyds, it'd still be market leading then.

Westie983

No signs of any change atm, any news I hear I will pass on...

Not that we know much more before you find out on the website, I checked the internal news today to see if there was a sniff of any change, nothing as of yet...

badger09

Gordon_the_Moron wrote: »

I'm surprised the Halifax account is under threat, for people using it as their actual current acount it's a pretty crap 'perk'

Expect the rate to drop to 3% at least on Club Lloyds, it'd still be market leading then.

But for the many of us using it as other than their 'main':cool: account, it is a very nice perk - for as long as it lasts.

GingerFurball_2

Gordon_the_Moron wrote: »

I'm surprised the Halifax account is under threat, for people using it as their actual current acount it's a pretty crap 'perk'

Expect the rate to drop to 3% at least on Club Lloyds, it'd still be market leading then.

For those of us who are building up towards filling current accounts, it's a great perk.

Marvel1

If they did scrap the Halifax Reward Account - £5 a month, then I will be scrapping my Ultimate Reward one.

System

Because it's a fixed amount - Halifax is less likely to scrap the reward, BOS Vantage and Club Lloyds are much more exposed.

A flat 1.5% seems to the flavour of the day with Santander and Yorkshire/Clydesdale with their (off sale) Direct account.

cjdavies wrote: »

If they did scrap the Halifax Reward Account - £5 a month, then I will be scrapping my Ultimate Reward one.