Club Lloyds and TSB classic plus interest

adonis10

So I notice much less interest this month in both:

Jan:
Lloyds - £17.77
TSB - £8.85

Dec:
Lloyds: £8.53
TSB: £3.53

I get that it was a slightly longer interest period for Jan due to the bank holidays but not that much. Have met the qualifying criteria, kept minimum balances etc..

Did the rates halve?

tizerbelle

TSB is now 3% on £1500
Lloyds is down to 2% on £5000

adonis10

tizerbelle wrote: »

TSB is now 3% on £1500
Lloyds is down to 2% on £5000

That would explain it. When did that take effect?

Wow, savings really aren't worth it!

Jo_Blogs

adonis10 wrote: »

Did the rates halve?

There abouts, yes!

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.asp

http://www.tsb.co.uk/current-accounts/classic-plus-account/

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

DREKLY

WOW !! in your case, they seem to have doubled , in January

fun4everyone

adonis10 wrote: »

Wow, savings really aren't worth it!

Yeah, the amount of money you can get saved risk free at 3%+ has dropped sharply - especially if you are single. P2P and investments are the way forward. I plan on living a long time and am not letting inflation eat away at my net worth!

adonis10

DREKLY wrote: »

WOW !! in your case, they seem to have doubled , in January

I think it was correct, though. 4% on 5k, for 33/34 days is about that amount.

PeacefulWaters

ow, savings really aren't worth it!

Something is better than nothing.

adonis10

PeacefulWaters wrote: »

Something is better than nothing.

Quite right, but it feels like nothing given how much other stuff (food, fuel etc.) goes up by.

PeacefulWaters

adonis10 wrote: »

Quite right, but it feels like nothing given how much other stuff (food, fuel etc.) goes up by.

Food costs have reduced over the last year.

Fuel remains cheaper than it was a couple of years back.

macman

When rates are so low, it becomes even more important to maximise your return. For example, many people will think that it's not worth switching an account to get, say 1.25% rather than 1%. But that is of course a 25% better return.