Lloyds to drop Club Lloyds interest from 4% (unconfirmed).

JustAnotherSaver

This may have been mentioned on the forums before.

I'm not putting this out as a fact or with any sort of timeframe on it & before anyone starts up - yes i know we all know that Lloyds, TSB, Nationwide etc will be dropping their rates at some point in the near future & how Santander was the first with dropping their 3% to 1.5%.

I'm just putting this out there on the forum as what i was told today, nothing more, nothing less.

Now we've got that out of the way...

I was in Lloyds today opening up a bank account & while i was there i asked the person dealing with us if they knew anything about the possibility of the Club Lloyds account dropping from 4%.


They said that they did. Asking them to elaborate they said that they've been told it'll be dropping from 4% to 3%. They're not about to go running around telling everyone as nothing has been put out to the public yet, but at the same time they're not allowed to lie when asked apparently.


That's as much as i know. Whether it's still on £5,000 or whether that also gets dropped i don't know. I was just told about the interest rate.

So for those who are interested - there you go.

[Deleted User]

Only to be expected, I suppose.

3% on £5000 would still be good, as long as the monthly fee can be avoided, as now, by lodging £1500 pcm.

jonesMUFCforever

Isn't it the club monthly saver rate which is dropping not the club Lloyds current account?

[Deleted User]

jonesMUFCforever wrote: »

Isn't it the club monthly saver rate which is dropping not the club Lloyds current account?

The Club monthly saver rate went from 4% to 3% for new accounts a while back, so if this is an imminent drop from 4% to 3% it can't be the monthly saver.

JustAnotherSaver

jonesMUFCforever wrote: »

Isn't it the club monthly saver rate which is dropping not the club Lloyds current account?

It was a joint club lloyds account i was opening & also asking about.

20aday

Given that TSB are conducting online surveys about different people's opinions on interest rates with their Classic Plus account I'd imagine Lloyds are also following suit.

Still 3% on balances from £4,000 to £5,000 is better than Santander's rates from November 2016.

I'd also imagine at some point Tesco Bank will also follow suit and lower interest on credit balances accordingly.

bigadaj

The branch staff would probably be the last to know so wouldn't rely on this with any certainty.

A rate drop wouldn't be a surprise, but I'm not sure this provides any further information really.

MABLE

JustAnotherSaver wrote: »

This may have been mentioned on the forums before.

I'm not putting this out as a fact or with any sort of timeframe on it & before anyone starts up - yes i know we all know that Lloyds, TSB, Nationwide etc will be dropping their rates at some point in the near future & how Santander was the first with dropping their 3% to 1.5%.

I'm just putting this out there on the forum as what i was told today, nothing more, nothing less.

Now we've got that out of the way...

I was in Lloyds today opening up a bank account & while i was there i asked the person dealing with us if they knew anything about the possibility of the Club Lloyds account dropping from 4%.


They said that they did. Asking them to elaborate they said that they've been told it'll be dropping from 4% to 3%. They're not about to go running around telling everyone as nothing has been put out to the public yet, but at the same time they're not allowed to lie when asked apparently.


That's as much as i know. Whether it's still on £5,000 or whether that also gets dropped i don't know. I was just told about the interest rate.

So for those who are interested - there you go.

Never take notice of gossip. Also they are still offering 4 percent and that is fact and not speculation.

joe134

MABLE wrote: »

Never take notice of gossip. Also they are still offering 4 percent and that is fact and not speculation.

Gossip makes the world go around.;) Just because it's Gossip, doesn't mean it's not true.
If it wasn't for it, half of everything on mse wouldn't exist.:rotfl:

PeacefulWaters

Open it now at 4%. They need to give you two months written notice of any change.

It's highly likely that they'll cut rates, because they've already confirmed that rates are under review.

As for branch staff, they're just guessing. As am I.

joe134

PeacefulWaters wrote: »

Open it now at 4%. They need to give you two months written notice of any change.

It's highly likely that they'll cut rates, because they've already confirmed that rates are under review.

As for branch staff, they're just guessing. As am I.

plus cinema tickets.better be quick