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LloydsTSB Online Saver Rate Reduced
Pagan98
Posts: 162 Forumite
I haven't seen this mentioned here or on TMF. Apologies if I'm being optically challenged!
Lloyds TSB have reduced the interest rate on their Online Saver account from 4.25% AER to 3.80% AER (3.74% Gross, 2.99% Net) effective from 01 September. (These are the monthly interest rates excluding bonus.)
Until now I've used the Online Saver for short-term funds needed later in the month for bill payments and a small amount of emergency savings. This is because transfers to/from the current account are instantaneous.
However, with the new interest rates its actually better to keep all the funds in my current account earning 4.00% AER!
It annoys me that Lloyds don't show the interest rate on the account overview or statement screens. Its purely fortuitous that I noticed so soon - hopefully this post will alert others who haven't noticed!
Lloyds TSB have reduced the interest rate on their Online Saver account from 4.25% AER to 3.80% AER (3.74% Gross, 2.99% Net) effective from 01 September. (These are the monthly interest rates excluding bonus.)
Until now I've used the Online Saver for short-term funds needed later in the month for bill payments and a small amount of emergency savings. This is because transfers to/from the current account are instantaneous.
However, with the new interest rates its actually better to keep all the funds in my current account earning 4.00% AER!
It annoys me that Lloyds don't show the interest rate on the account overview or statement screens. Its purely fortuitous that I noticed so soon - hopefully this post will alert others who haven't noticed!
0
Comments
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They also cut their mini cash ISA rate by a whopping .5%
In June by .10% and again on 1st Sept by .4%
Moved mine to the Halifax,would`nt bank with this lot ever again.0 -
I have kept £3500 ino an online saver for emergencies. Think I will transfer some of this to Cahoot 5.3%0
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