Club Lloyds & BoS Vantage Interest Rates Dropping

POPPYOSCAR

It is worth keeping the accounts for us just for the cinema tickets if nothing else.

18cc

Yes if I had to buy my magazine subscription that would be about 40 or £50 a year so that's a good saving

MDMD

bristolleedsfan wrote: »

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

My reading of the terms is that it’s only on the part of the balance between £4 and £5k that gets that rate, everything else gets the lower rate

angela110660

We recently had a letter from Lloyds about renewal of our cinema vouchers - we get Cineworld - as we had kept our Club account for another full year.
The vouchers should come shortly

Hurri

MDMD wrote: »

My reading of the terms is that it’s only on the part of the balance between £4 and £5k that gets that rate, everything else gets the lower rate

That's how I read it too. So by this:
Previously with a balance of £5000 you'd get approx £75/yr. (1.5% of £5000).
Now, you'd get £40 for the balance up to £4000 (1%), and £20 for the additional £1000 at 2%.
So approx £60/yr, (as pointed out above, now an effective rate of 1.2% for £5000).

colsten

jonesMUFCforever wrote: »

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

Do you mean shares in LBG? As long as people have a balanced investment portfolio and LBG fits in that portfolio, then why not. But nobody should ever consider investments in just one company.

My own investment strategy is built on funds rather than shares, plus cash reserves. My cash will definitely be staying in cash but will be moving from the BOS Vantage and from the Club Lloyds. I'll keep the Monthly/Regular Savers if they keep the interest rates on those.

quirkydeptless

More leaves falling from my magic money tree



:xmastree::(

Sun-Is-Fun

Wasn't too long ago, this account was paying 4%.

Would much prefer them to get rid of the 'free' magazines, etc. each month and give you better interest. How much will it cost sending these to all the customers each month?

YorkshireBoy

mjfp509 wrote: »

Wasn't too long ago, this account was paying 4%.

3 years ago in October 2016 it was cut from 4% to 2%. Longer than you thought perhaps?

clivep

YorkshireBoy wrote: »

3 years ago in October 2016 it was cut from 4% to 2%. Longer than you thought perhaps?

I don't know about the Club Lloyds, but the BOS Vantage was 3% on balances from £3k-£5k when I opened our a/cs in December 2016.


The rate didn't drop to a flat 2% until June 2017.