BOS vantage and Lloyds Club forthcoming rate reduction

veryintrigued

Just a quick reminder that those of you who hold these accounts will have the % equivalent reducing to circa 0.78 if full up to £5000 on 1/10.

fenwick458

0.78% looks pretty poor really, you'd think, "why bother?"
but then recently I've heard they have negative interest rate in some places so maybe not that bad

GTR_King

With Covid-19 and the country not doing so well the rates will be rubbish but 0.78 still good..
Maybe in a year or to things will pick up

veryintrigued

I guess the prompt was that there are other easy access options out there with close to 0.4% better rates than this.

Not to be sniffed at when people will have multiple BOS and Lloyds accounts at full up to £5k.

Awaits someone telling me it's point something pence per day lost!

surreysaver

I applied the other day (successfully) for small overdrafts on mine, as I am intending to run them at nil balances for most of the month from October (rather than keep them at £5k), as they are the feeder accounts for my Regular Savers.  That way I can keep them at £0 for most of the month, with the overdraft to allow them to still accept direct debits which I will replace the money for the same day, and I will simply top them up to £5k each a few days before the end of the month before my standing orders all go out on the 1st.

[Deleted User]

HBOS vantage? Has it ever existed? 

kaMelo

dahj said:

HBOS vantage? Has it ever existed? 

HBOS Vantage no.
BOS Vantage yes.

soulsaver

veryintrigued said:

I guess the prompt was that there are other easy access options out there with close to 0.4% better rates than this.

Not to be sniffed at when people will have multiple BOS and Lloyds accounts at full up to £5k.

Awaits someone telling me it's point something pence per day lost!

On the positive side, if you shift your balances to somewhere better there's no need for the £1k & 2 DDs merry-go-round.. and another lump of mine wings its way to NS&I IBs.

It may be pennies... but they'll be my pennies, not LBG's

garmeg

soulsaver said:

veryintrigued said:

I guess the prompt was that there are other easy access options out there with close to 0.4% better rates than this.

Not to be sniffed at when people will have multiple BOS and Lloyds accounts at full up to £5k.

Awaits someone telling me it's point something pence per day lost!

On the positive side, if you shift your balances to somewhere better there's no need for the £1k & 2 DDs merry-go-round.. and another lump of mine wings its way to NS&I IBs.

It may be pennies... but they'll be my pennies, not LBG's

I think you need to pay in £1,500 each month for Club Lloyds to avoid the £3 monthly fee.

The direct debits are also needed to trigger the interest payment.

soulsaver

I was referring to the BoS /Halifax Vantage which is £1k pm + 2DDs.
But you won't need the DDs for the CL anyhow as you're moving your money elsewhere for 50% more interest? 

Polly05

Isn't it going to 1.5% for £4-5k? Or is my note wrong?