LloydsTSB Fixed rate Isa 6.5%

ChrissyC_2

I calleds Lloyds yesterday and the current 'early bird' for <£30k is 3%, and 3.2% for >£30k

Newly_retired

My Lloyds FRISA is due to mature in 10 days' time. I currently have less than £30K but when I add the new £3600 it will be over £30K.
Am I best to add £3600 to my existing FRISA ( if I am allowed)THEN transfer it to get the better rate or should I transfer existing funds first then add 2009-10 £3600 ? Or will I be tied in to a lower rate if I do that?

boobbby

Newly_retired wrote: »

My Lloyds FRISA is due to mature in 10 days' time. I currently have less than £30K but when I add the new £3600 it will be over £30K.
Am I best to add £3600 to my existing FRISA ( if I am allowed)THEN transfer it to get the better rate or should I transfer existing funds first then add 2009-10 £3600 ? Or will I be tied in to a lower rate if I do that?

You will get about £1900 interest added if you are just below the £30000. If you stay with Lloyds FR ISA you will get the 3.2% when you reach £30000 as interest is calculated daily. You can also add up to £3600 at the same time or later. If you are above £30000 then you can use the the 2009/10 allowance with another provider and get a better rate. If you are below £30000 then you still get 3% at Lloyds!! which will give you about £60 less interest but you will have a choice of 2 ISA's to withdraw money.

oxenryd

My FRISA was meant to mature last sat (28th), left it til today, next working day but still shows as fixed rate and no interest credited ? Anyone else had that ?

Geoffo_M

oxenryd wrote: »

My FRISA was meant to mature last sat (28th), left it til today, next working day but still shows as fixed rate and no interest credited ? Anyone else had that ?

I am in identical position to you. Also matured 28th but no interest yet. Today is the day it should be credited, but Lloyds have a habit of crediting right at the end of the day. Bet it goes in around 10pm/11pm.

Reassuring there is someone in same position as me

oxenryd

Geoffo_M wrote: »

I am in identical position to you. Also matured 28th but no interest yet. Today is the day it should be credited, but Lloyds have a habit of crediting right at the end of the day. Bet it goes in around 10pm/11pm.

Reassuring there is someone in same position as me

I feel so much better now knowing I'm not the only one. This is why I love MSE so much

Geoffo_M

oxenryd wrote: »

I feel so much better now knowing I'm not the only one. This is why I love MSE so much

Looks like I was right. My interest is now showing. Monkies, too late now and can't organise my follow on until tomorrow

oxenryd

Geoffo_M wrote: »

Looks like I was right. My interest is now showing. Monkies, too late now and can't organise my follow on until tomorrow

Mine too. Does your still show as fixed rate ?

Geoffo_M

oxenryd wrote: »

Mine too. Does your still show as fixed rate ?

No it doesn't - it just says Cash ISA. What does your say? Were you offered the Early Bird in which case, if you accepted, it should still show Fixed Rate?

ben.bayliss

They really don't have much of a clue do they?

Just spoke with a call centre rep who said that the anniversary date on my account was the date of first deposit(!) - so mid June as it took them that long to cash the cheque. She also said she couldn't tell me when the interest would be backdated to as it wasn't calculated until then. You'd think that information would be in their computer somewhere?! Oh and finally, she confidently told me I was getting interest at 5%, but then when questioned about the 6.5% just shrugged and said 'whatever you were told when you set it up' - but if that's the case why would the system be telling her something totally different?! AAARRGH.

Preparing myself for the inevitable battle. Might even take a wander into the branch later on.