LloydsTSB Fixed rate Isa 6.5%

redcar_2

Dagobert wrote: »

Although Lloyds TSB's important information states that this year's ISA must be introduced, I just managed to open the account over the phone only introducing previous years' ISAs.

I just tried to do this and was told I'd have to move this years subs in to open.

Anyone know why Lloyds are imposing stricter rules than HMRC does? I'm guessing its just a poorly worded term as I can't see they'd want to stop peopoe adding in money as long as its all legitimate.

Richchad

redcar wrote: »

I just tried to do this and was told I'd have to move this years subs in to open.

Anyone know why Lloyds are imposing stricter rules than HMRC does? I'm guessing its just a poorly worded term as I can't see they'd want to stop peopoe adding in money as long as its all legitimate.

I managed to open an account by only transferring previous years and not this current one (2007/8) although I intend to transfer in this as well once my first transfer is complete, will also be topping up with my 2008/9 allowance come April 6th :j

roddydogs

3 weeks gone and still waiting!

tsmiggy

These things confuse me lol.

I have £10,500(isa) in a local Building Society paying me a not impressive interest rate.My yearly interest will be added in April.Should i be able to transfer my funds to Lloyds after my interest as been added,or do i transfer it beforehand.Of course i do not wnat to lose any interest with my exisitng account.I did try calling Lloyds,but the guy seemed unsure himself.Any help would be appreciated

Cheers:beer:

Richchad

tsmiggy wrote: »

These things confuse me lol.

I have £10,500(isa) in a local Building Society paying me a not impressive interest rate.My yearly interest will be added in April.Should i be able to transfer my funds to Lloyds after my interest as been added,or do i transfer it beforehand.Of course i do not wnat to lose any interest with my exisitng account.I did try calling Lloyds,but the guy seemed unsure himself.Any help would be appreciated

Cheers:beer:

I would check with your local building society to see if there is any penalty for transferring out before the year, if not then they should just add the interest up to the date you transfer out, if you have to wait for the year end to get your interest just transfer it after that date, nothing to stop you applying for the LloydsTSB fixed ISA now, just tell them what ever your local BS has told you.

I have another TOISA I want to transfer from a local BS and it has a 90 day penalty, the guy told me he would take the 90 day notice now and would ensure it wasn't transferred until the 90 days was up.

Hope this helps.

Liz_the_Whizz

Richchad wrote: »

I have another TOISA I want to transfer from a local BS and it has a 90 day penalty, the guy told me he would take the 90 day notice now and would ensure it wasn't transferred until the 90 days was up.

But won't your 90 day notice period take you past 31 May 2008 closing date for the Lloyds FRISA? Or is it OK so long as you INITIATE the transfer before 31 May?

I don't seem to have any detailed T&Cs from my account opening trip - has anyone found out the rules on this yet?

I too want to make a further transfer in but don't want to initiate it until my first £9k transfer is done and dusted as the interest rate on <£9k is poor.

Richchad

Liz_the_Whizz wrote: »

But won't your 90 day notice period take you past 31 May 2008 closing date for the Lloyds FRISA? Or is it OK so long as you INITIATE the transfer before 31 May?

I don't seem to have any detailed T&Cs from my account opening trip - has anyone found out the rules on this yet?

I too want to make a further transfer in but don't want to initiate it until my first £9k transfer is done and dusted as the interest rate on <£9k is poor.

I had assumed the date of 31st May was the limit for opening an account not a limit on when you could add or transfer money in

derrick

bristolleedsfan wrote: »

Yes u can but u will be on a lower rate until the balance is 9000 +.

bristolleedsfan wrote: »

http://www.lloydstsb.com/rates_and_charges/savings_rates_a_to_o.asp#frisa

Fixed Rate Cash ISA

Amount InvestedAER/Tax-free (per annum) %£9,000+6.50 £6,000+5.15 £3,000+ 5.00 £1+0.00

These interest rates are correct as at 28/01/2008.

http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp

As this is a fixed rate term ISA, I would not think you could add to it once opened, hence the advice to top up an existing ISA before transferring!

obsessed_saver

Lloyds expect that people have to transfer in multiple year's ISA from multiple ISA providers, so they are allowing people to add to the account as there is no way that they can guarantee that multiple transfers from multiple providers will arrive at the same time. I am transferring in £3000+ from one ISA provider and £6000+ from another, and the lady that opened the account said that it would get the 6.5% rate. I will write in to get written confirmation that the 6.5% rate is being applied to my account once the money is in.

I just checked and my NS&I account balance is £0 as of today. Now waiting to see how long it takes to get into my Lloyds FRISA.

boobbby

derrick wrote: »

As this is a fixed rate term ISA, I would not think you could add to it once opened, hence the advice to top up an existing ISA before transferring!

I asked if if I could top up the 6.5% ISA next year when I was in my local Lloyds branch. They didn't know the answer!

I thought I had read somewhere that say you had £6000 in a Lloyds ISA you could add this years £3600 after April so that you could get the higher rate. :T