LLoyds ups rate to 6.25% on Club LLoyds

35har1old

masonic said:

I'm less than a month in, so easy decision to renew mine, and worked just fine.

Have you checked the terms  before you do that

PloughmansLunch

I’m an existing Lloyds customer for many years. My savers were about three months in - I renewed both today and now have 2 savers with the higher rates

CuriousGirl

PloughmansLunch said:

I’m an existing Lloyds customer for many years. My savers were about three months in - I renewed both today and now have 2 savers with the higher rates

Forgive my silly question - how did you renew them?

billyboy

Like any fixed rate term account, its always a gamble to get in at the best rates, Not many times i succeed but still keet trying.

35har1old

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

However, you will only be able to put £400 in the new Club Lloyds Monthly Saver, so you need to find a home with a decent interest rate for the rest of your savings from the old account, or it might not be worth changing.  

The ordinary Lloyds Monthly Saver has now increased to 5.25 % (from 4.50%) and you can have that in addition to the Club Lloyds Monthly Saver.

EarthBoy said:

redux said:

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

How does that fit with this condition?

• It's only available to Club Lloyds current account holders who have not already opened one of these accounts in the last 12 months.

Does this so-called renewal cancel that the earlier account previously existed in that form?

That condition exists in theory only, because it's not how they actually work.  It's not the only Lloyds rule that says one thing but their practice does something different. 

Yes hope this works for everybody as I had a issue with TSB on opening  monthly saver which kept telling me that I already held one which had matured a month previously

masonic

35har1old said:

masonic said:

I'm less than a month in, so easy decision to renew mine, and worked just fine.

Have you checked the terms  before you do that

Yes I have. What happens in practice is more important to me than what is supposed to happen in theory.

35har1old said:

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

However, you will only be able to put £400 in the new Club Lloyds Monthly Saver, so you need to find a home with a decent interest rate for the rest of your savings from the old account, or it might not be worth changing.  

The ordinary Lloyds Monthly Saver has now increased to 5.25 % (from 4.50%) and you can have that in addition to the Club Lloyds Monthly Saver.

EarthBoy said:

redux said:

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

How does that fit with this condition?

• It's only available to Club Lloyds current account holders who have not already opened one of these accounts in the last 12 months.

Does this so-called renewal cancel that the earlier account previously existed in that form?

That condition exists in theory only, because it's not how they actually work.  It's not the only Lloyds rule that says one thing but their practice does something different. 

Yes hope this works for everybody as I had a issue with TSB on opening  monthly saver which kept telling me that I already held one which had matured a month previously

That's an example of something that shouldn't happen in theory or in practice.

PloughmansLunch

CuriousGirl said:

PloughmansLunch said:

I’m an existing Lloyds customer for many years. My savers were about three months in - I renewed both today and now have 2 savers with the higher rates

Forgive my silly question - how did you renew them?

It’s a few posts into this thread, and further expanded upon later in the thread. ‘Renew your savings…’ bit is in online banking, I don’t think it’s available in the app.
https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits/p1

masonic

PloughmansLunch said:

CuriousGirl said:

PloughmansLunch said:

I’m an existing Lloyds customer for many years. My savers were about three months in - I renewed both today and now have 2 savers with the higher rates

Forgive my silly question - how did you renew them?

It’s a few posts into this thread, and further expanded upon later in the thread. ‘Renew your savings…’ bit is in online banking, I don’t think it’s available in the app.
https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits/p1

I think it is available in app, but only noticed the option after doing it in online banking. When you go to the 'Apply' section in the app, there is a Renew option. It is not an account-specific option.

adindas

35har1old said:

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

However, you will only be able to put £400 in the new Club Lloyds Monthly Saver, so you need to find a home with a decent interest rate for the rest of your savings from the old account, or it might not be worth changing.  

The ordinary Lloyds Monthly Saver has now increased to 5.25 % (from 4.50%) and you can have that in addition to the Club Lloyds Monthly Saver.

EarthBoy said:

redux said:

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

How does that fit with this condition?

• It's only available to Club Lloyds current account holders who have not already opened one of these accounts in the last 12 months.

Does this so-called renewal cancel that the earlier account previously existed in that form?

That condition exists in theory only, because it's not how they actually work.  It's not the only Lloyds rule that says one thing but their practice does something different. 

Yes hope this works for everybody as I had a issue with TSB on opening  monthly saver which kept telling me that I already held one which had matured a month previously

It works with LBG e.g Llloyds, Halifax, BOS. I have done that multiple times in the past. I  have not tried with TSB. But it might be different as TSB has a different system with LBG. But my TSB already pays 5% when my old TSB expired.

35har1old

EarthBoy said:

35har1old said:

But only for new customers

Also for existing customers if you "renew" your existing Club Lloyds Monthly Saver to an ordinary savings account (Club Lloyds Saver or Easy Saver) and then open a new Club Lloyds Monthly Saver. 

However, you will only be able to put £400 in the new Club Lloyds Monthly Saver, so you need to find a home with a decent interest rate for the rest of your savings from the old account, or it might not be worth changing.  

The ordinary Lloyds Monthly Saver has now increased to 5.25 % (from 4.50%) and you can have that in addition to the Club Lloyds Monthly Saver.

When do you get the interest you have earned to date