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'Nude' LISA changed to 'Tembo' with 4.3% rate!

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Comments

  • WillPS
    WillPS Posts: 5,504 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    WLewer98 said:
    Tembo state on their website '4.75% AER (variable) with no drop-off after year one'.

    Does this mean I would be guaranteed 4.75% on my LISA balance for at least a full year?
    No, it's a variable rate. What they are clumsily pointing to is the fact that unlike their main competitor the headline rate doesn't include a time limited (possibly once per lifetime?) bonus.
  • WillPS
    WillPS Posts: 5,504 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    Tembo have improved their rate again to 4.8%: https://www.tembomoney.com/savings/lifetime-isa-cash
  • VNX
    VNX Posts: 475 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    FSCA protection?
  • masonic
    masonic Posts: 29,739 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    VNX said:
    FSCA protection?
    No, but it is FSCS protected, which I believe is better.
  • VNX
    VNX Posts: 475 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    masonic said:
    VNX said:
    FSCA protection?
    No, but it is FSCS protected, which I believe is better.
    When I searched on the FSCS website it said savings not protected 
  • masonic
    masonic Posts: 29,739 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    VNX said:
    masonic said:
    VNX said:
    FSCA protection?
    No, but it is FSCS protected, which I believe is better.
    When I searched on the FSCS website it said savings not protected 
    Which of the partner banks they use do you think lacks protection?
  • VNX
    VNX Posts: 475 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    masonic said:
    VNX said:
    masonic said:
    VNX said:
    FSCA protection?
    No, but it is FSCS protected, which I believe is better.
    When I searched on the FSCS website it said savings not protected 
    Which of the partner banks they use do you think lacks protection?
    Which partner bank should I search for? I searched for tembo 
  • masonic
    masonic Posts: 29,739 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    VNX said:
    masonic said:
    VNX said:
    masonic said:
    VNX said:
    FSCA protection?
    No, but it is FSCS protected, which I believe is better.
    When I searched on the FSCS website it said savings not protected 
    Which of the partner banks they use do you think lacks protection?
    Which partner bank should I search for? I searched for tembo 
    For the cash LISA and cash ISA products, the money is held with Barclays or Bank of Scotland.
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