tsb reg. saver

dandare

hey folks, i opened an tsb. reg saver 2 year 12% just over a year ago. i was wondering and think i know the answer, but, is the 12% interest paid at the end of the 2nd yr? i was thinking of moving the money into my isa after april, i've maxed this years allowance.
i could still fund my isa with other funds, so would i be best to leave it to run the 2 years?
if i do take it out is any interest paid? if so is it some rubbish rate they give you for leaving early?
ta
dan

oldfella

its 8% - its paid annually, and calculated daily - you can withdrawal whenever you like

if you are talking cash ISA then you wont get 8% on it - leave the money in the RS for the second year

DeepSporran

If you can fund your next year's ISA from other funds, I don't see that it's worth taking the cash out of this account. You'll be getting 8% on the increasing balance for another year, which is unusual for regular savers. In fact Lloyds TSB don't do a two year 8% monthly saver now - it's been reduced to one year for new accounts.

dandare

cheers folks, thats what i was thinking, although i didn't realise it was paid annually. i've been trying to work out the best way to do it between, isa (soon to be icesave) and savings acc. icesave. minus taxes and only being able to put in 250 per month against a lump sum for a full year. quite confusing for my wee brain.
anyhoos thanks.
i'll fill up the isa next year from other funds, keep topping up my 250 per month in the reg. saver and if there's anything else it'll go into icesave savings.
ta

dandare

also don't know why i thought it was 12%, must be mixing it up with another i was looking at. abbey i think. anyway doesn't matter.