Lloyds Regular Saver having switched away from Lloyds

nickmillett

I've switched for Lloyds to another bank, however I still have the Regular Saver and continuing to pay into it. The account still says interest at 6.25%. Will this continue to pay at that rate? I've seen nothing from Lloyds to tell me otherwise!

Chaykin

The Club Lloyds Monthly Saver T&Cs state you need to have a Club Lloyds current account when opening the account. They don't state anything that they will close the account or similar if you cease to have a Club Lloyds current account. So I think you're good. You just won't be able to open a new one until you have a Club Lloyds current account again.

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/6673885/lloyds-regular-saver-having-switched-away-from-lloyds

It will probably continue to pay the stated interest for the full duration of the account. However, when the account matures, you can only withdraw the money to another Lloyds account. Opening a Classic Lloyds current account would solve this problem. Clarification in subsequent post below.

Barkin

However, when the account matures, you can only withdraw the money to another Lloyds account.

That restriction only applies while funds are in the RS account.

Once it matures, and is converted to a Standard Saver account, the funds can be paid out from there to any other account of your choosing.

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/comment/82047841#Comment_82047841

Good to know, thanks for the clarification