Everyone seems to be cutting rates already

bristolleedsfan

Geoffo_M wrote: »

Lloyds internet and online savers are a joke. I opened an online saver last year when the rate was 5.75%. It is now 4.9% and that includes a bonus of 0.6%. How can they seriously expect savers to deposit their savings in these accounts?

Not wishing to appear cheeky, perhaps u are answering your own question, while the Big 4 Banks offer savings accounts, with all the world wide operations they do, perhaps they arent fussed if people save with them or not.

Only benefit the big four Banks get from people saving with them is that it may lead to the saver buying other products which was why Barclays launched the mega high paying Tax Beater ISA and the reason why A+L are giving a 20.00 quidco incentive to new E-Saver account openings.

chesky369

I've banked with Lloyds for 30 years now but I would never dream of having any kind of savings with them - their rates have always been rubbish and probably always will be.

DeepSporran

chesky369 wrote: »

I've banked with Lloyds for 30 years now but I would never dream of having any kind of savings with them - their rates have always been rubbish and probably always will be.

Occasionally they have something worthwhile. The 8% monthly saver was pretty fair when it was a two year product.

The 'Save the Change' promotion a year ago (where they effectively matched your savings up to £100 gross) was a marvellous caper for a couple of months.

Geoffo_M

chesky369 wrote: »

I've banked with Lloyds for 30 years now but I would never dream of having any kind of savings with them - their rates have always been rubbish and probably always will be.

I agree - I only opened this account for the times when I had large deposits, which were going out some days later. Interest on their current account is limited to balances of £2,500 so I'd rather earn some interest rather than none at all.

ATF101

wombat42 wrote: »

ICICI still have 6.85% I year bonds

How safe is your, more to the point, my money with these people???

Fella

Rafter wrote: »

I'd rather keep my savings save in large uk institutions than chase rates and end up waiting 2 years for the government guarantee to pay out and then lose 10% of my savings anyway.

R.

The FSCS guarantee is 100% (of £35K) now, not 90%.