Regular saver ends soon.

Geoffo_M

Mine also ends in a couple of months. I had letter from Lloyds this morning telling me that this would not now revert to their Guaranteed Tracker as they were replacing this with a new account called Easy Saver. We are told this new account pays 0.6% more than the Guaranteed Tracker and is guaranteed til December 2010. The new rate; just 3.75%! They're having a laugh aren't? 8% one day, 3.75% the next. Who's going to leave it there?

sloughflint

moonrakerz wrote: »

Don't follow your logic.

I just meant that Chesky's reasoning was valid despite the incorrect statement of 4.5% interest.
If there is a bond around at 6.8% then that is marginally better than the First Direct and 5% feed option ( plus taking loss of interest in transit should be factored in) If neither account allows withdrawals then why bother with the RS? ( of course a feed account like KE might adjust the figures more favourably).
The AL one is good however but it might involve OP having to open another current account ( quidco?) and rotate money to satisfy the funding requirements.

chesky369

"The total interest rate on your original £3600 comes out to about 6.5%."

So you might as well pop it into an ICESAVE 6-month-er at 6.8%. Less hassle.

~Chameleon~

Can some kind soul please tell me whether there are any penalties for withdrawing money from the regular saver before the end of term? I've lost the T&C

I've got the 2 year 8% acc ending 5th June but I need to withdraw £1500 on 10th May. Also, roughly how much will it cost me in lost interest to do this?

sloughflint

1500*0.08/365*27*0.8=£7.10 loss of interest.
Withdrawals ok.

~Chameleon~

Thanks for that, just one other question, are transfers from the regular acc to current acc done immediately the same as the online saver accs?

sloughflint

Sorry can't help there. Not made any withdrawals but on the website for the new deal it says;
instant access to your money with no penalties,
make as many withdrawals as you like to your Lloyds TSB current account, although you can only pay in once a month by standing order and cannot replace what you’ve withdrawn,
the convenience of seeing your balance online and changing your standing order any time you like if you have Internet banking,