Lloyds TSB - Current Plus & Online Saver

blizeH

Sorry for asking a silly question, but I'm a bit confused. I've got a few savings accounts and am generally quite good at organising funds, but I've had a bit of a nightmare with this.

For the past two years or so, I've always transferred money into my online saver, as it's so easy to put it back into my current account and generally very accessible.

Problem is, I've just checked the interest rate, and it's only 3% - which I believe is actually *lower* than my Current Plus account - but I'm not even sure what the interest rate is on that, it says over 6% but that's only for the first 12 months, no mention of after that.

I only ever leave around £3,000 in there as a buffer, so the amount of interest is probably going to be fairly negligible, but it's a principle thing really - I'd rather have the money in my pocket than give it to Lloyds, especially due to the way they confuse matters with these introductory rates with no clear mention of what you get after that period ends.

I'm just wondering really what the best account is to use? I'd rather not switch from Lloyds, but am hoping they offer something a bit better than the 3% the monthly saver offers, that's less than half of my Sainsbury's and Icesave accounts x_x

taless

Hi blizeH,

No I believe you are still getting the 5.00% APR from your Online Saver account. Whilst this Online Saver account is no longer marketed, I believe you are still getting the 5.00%, as this is the account that you opened. http://www.lloydstsb.com/rates_and_charges/non_marketed_product_rates_curr_page.asp

The 3.00% APR applies to Internet Saver, which is a new savings account.

I agree 5.00% is definitely not the best savings account available, but as you said, it's helpful as a current account's friend!

blizeH

Ah! That's excellent then, cheers dude.

Like you said, it's not great but when it's so convenient you can't really go wrong

Thanks again