TSB to increase classic plus rate to 5%

veryintrigued

Mchambers wrote: »

Yeah but revenge will be sweet via compensation.

You sound delightful

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knack92

This is good news. Can't see them downgrading additional Plus accounts in the short term but I wouldn't be too aggrieved if they did having had a third account erroneously for the last four years.

Mchambers

veryintrigued wrote: »

You sound delightful

Spam hit

No just blissful !!:D

Katiehound

wonder if it will be a carrot to encourage folk from Lloyds now that their interest is decreasing!!

antrobus

As a way of saying thank you to our customers for sticking with us, we'll be increasing the interest rate on our Classic Plus account to 5% AER.

https://www.tsb.co.uk/news-releases/2018-q1-results/

TSB press release announcing its latest financial results.

JustAnotherSaver

When one started slashing the rates the rest joined in.

I got a letter from Lloyds this week saying they're cutting the interest rate even further on the Club Lloyds account.

Just when i expect this to do the rounds, i hop on here to find TSB going in the opposite direction??

ThreadDefender

The featured current accounts on Telegraph article below appears to suggest TSB is offering current accounts with a 5% interest rate up to £2000.

https://www.telegraph.co.uk/personal-banking/current-accounts/tsb-customers-able-see-peoples-bank-details-upgrade-farce/

It would be odd for this comparison table to be so out of date, so I wonder if they are also increasing the balance on which interest can be earned?

robin58

Just as a side note I walked past my TSB branch and saw 2 large posters boasting 'a 1000 people join us every day'. It made me laugh out loud.

I felt getting a sharpie and changing it to '1000 people are now leaving us every day'.

Nebulous2

I've a family member with a bit of spare cash looking for a home. 5% will be enough to tempt them if it applies to new people. A referral deal would make it all the better.

Zanderman

ThreadDefender wrote: »

The featured current accounts on Telegraph article below appears to suggest TSB is offering current accounts with a 5% interest rate up to £2000.

https://www.telegraph.co.uk/personal-banking/current-accounts/tsb-customers-able-see-peoples-bank-details-upgrade-farce/

It would be odd for this comparison table to be so out of date, so I wonder if they are also increasing the balance on which interest can be earned?

TSB have made no details available about this 5% rate yet - so how would the Telegraph have firm information?

The table you reference also says First Direct offer £100 for a switch, which is out of date - so they clearly have not updated the table recently. And the link for TSB takes you to MoneySupermarket's site where the TSB account isn't even listed at present.

So, as TSB have not given details yet, and with those two clear errors in the Telegraph table, I doubt you can take the £2000 as accurate. It's more likely simply an error.