Club Lloyds Advantage Saver

paul_liverpoolfc

Hi

I've stupidly already made the 3 withdrawals from my Club Lloyds Advantage Saver, so the interest rate has gone down to 1% from 3.64%. 

Can I open another Advantage Saver and put the money back in the new account to get the rate back?

Thanks

grumpy_codger

https://www.lloydsbank.com/savings/club-lloyds-advantage-saver.html

You can have up to five Club Lloyds Advantage Saver accounts and name each one.

That said, you can find much better rates elsewhere. And I guess you took advantage of both Club Lloyds Monthly Saver (6.25%, £400p.m.) and Monthly Saver (5.25%, £250p.m.) that both allow easy access to your money.

PRAISETHESUN

There's no *ahem* advantage to holding that account. You'd be much better to pick one of the top paying easy access accounts. Higher interest rates and no withdrawal restrictions... https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Otherwise I don't see any issue with closing your old account to subsequently open a new one, assuming Lloyds will let you do so.