Moneybox cash LISA

hiraethh

I have a cash Lifetime ISA with Moneybox, which is powered by OakNorth bank. The interest rate is 0.4%, which was the reduced rate during the COVID pandemic. When I first opened my account, the interest rate was 1.4%.

I have asked them when will they increase the interest rate, but they haven’t responded.

A bit disappointed with this to be honest, because surely the interest rate should be higher that 0.4%…

Flugelhorn

sounds like so many savings accounts - they are pretty hopeless, mine is in NS&I direct saver and I see that that has gone up to 0.5% still nowhere near what it could be 

intalex

hiraethh said:

I have a cash Lifetime ISA with Moneybox, which is powered by OakNorth bank. The interest rate is 0.4%, which was the reduced rate during the COVID pandemic. When I first opened my account, the interest rate was 1.4%.

I have asked them when will they increase the interest rate, but they haven’t responded.

A bit disappointed with this to be honest, because surely the interest rate should be higher that 0.4%…

I have the same account (and problem), and am now looking at stocks & shares options, seeing as markets seem to be down and I think it may be a good time to buy in...

Albermarle

Beehive LISA is paying 0.8% .
Homebuyer Lifetime ISA | Top Cash LISA | Beehive Money

hiraethh

Yeah, it’s so frustrating. Banks are quick enough reduce the interest rates, but won’t bring them up 

housemw

Albermarle said:

Beehive LISA is paying 0.8% .
Homebuyer Lifetime ISA | Top Cash LISA | Beehive Money

cant get the app to work:(

housemw

Moneybox interest rate is daylight robbery. 

housemw

I think the rate is 0.25% not 0.4%.

hiraethh

Mine is 0.4%