Club Lloyds & BoS Vantage Interest Rates Dropping

Willing2Learn

Both are dropping from 1st October 2019.

Club Lloyds:

Please note: From the 1st October 2019, we will be changing the interest you can earn on Club Lloyds Accounts. The current interest rate of 1.5% AER/1.49% annual gross variable, payable on balances from £1 up to £5,000, will change to:

1% AER / 0.99% annual gross variable on balances from £1 up to and including £3,999.99 and will increase to

2% AER / 1.98% annual gross variable on the part of any balance from £4,000 to £5,000

Bos Vantage:

Please note: From the 1st October 2019, we will be changing the interest you can earn on accounts with Vantage. The current interest rate of 1.5% AER/1.49% annual gross variable, payable on balances from £1 up to £5,000, will reduce to:

1% AER / 0.99% annual gross variable on balances from £1 up to and including £3,999.99 and will increase to

2% AER / 1.98% annual gross variable on the part of any balance from £4,000 to £5,000

Sea_Shell

....another one bites the dust.:(

Terry_Towelling

May be worth keeping the account with a small balance for the linked RS accounts (if they continue).

YorkshireBoy

Terry_Towelling wrote: »

May be worth keeping the account with a small balance for the linked RS accounts (if they continue).

The rates or those will be next on the list?

El_Torro

So if you manage to maintain a balance of £5k you're effectively getting 1.2% interest, still pretty dire.

Looks like it's finally time for me to get rid of my two BOS accounts and just put the money in a savings account earning 1.5%. I don't have to worry about standing orders and direct debits there either.

Or I could just bung even more into Premium Bonds. With average luck I should do slightly better than 1.2%.

jonesMUFCforever

Anybody think it a fair bet to buy the shares for the dividend yield - instead of the interest?

18cc

Are they still keeping the magazines etc

YorkshireBoy

18cc wrote: »

Are they still keeping the magazines etc

Looks like it, and the Vue cinema benefits are being improved. Full statement on their website.

Ashen

I think it's pretty poor form for them to be giving the top interest rate only to the people with a consistent £4000+ balance.

YorkshireBoy wrote: »

Looks like it, and the Vue cinema benefits are being improved. Full statement on their website.

I received an email about that today - it said about me not having used all my vouchers yet, so not sure if people who have used them will get it only when they get their next set of vouchers.

bob792

https://www.lloydsbank.com/assets/media/pdfs/guide-to-changes.pdf

bristolleedsfan

Those with 4000 -5000 balances will be delighted by the 0.5% increase :j