Lloyds rate dropping

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  • talexuser
    talexuser Posts: 3,499 Forumite
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    well I suppose it couldn't last forever.
  • MABLE
    MABLE Posts: 4,080 Forumite
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    We have had a good run but never the less disappointing.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    The squeeze on free banking continues as banks desperately seek ways of making money. Low interest rates aren't just impacting savers.
  • TheShape
    TheShape Posts: 1,779 Forumite
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    That's a pain as I've literally just opened it. I'll quickly open a monthly saver to lock in the 3% on that, unless that's changing. At least I've got the cinema tickets coming.
  • Stuart788
    Stuart788 Posts: 915 Forumite
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    How likely is it for BOS to follow suit on their 3% accounts and Halifax on their reward account since they're now the same bank (sorta)?
  • fun4everyone
    fun4everyone Posts: 2,339 Forumite
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    Unsurprising but disappointing, thanks for the heads up OP. Had a good run there at least. More P2P beckons, as well as learning about the stockmarket.
  • Kim_13
    Kim_13 Posts: 2,432 Forumite
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    Nothing mentioned about BOS, but Halifax changes coming apparently http://www.moneysavingexpert.com/news/banking/2016/10/club-lloyds-to-slash-interest-rate-from-4-to-2?_ga=1.85254878.696116361.1412375433

    Odd, as I'd think the BOS accounts are costing them more money than the Halifax Reward that has been restricted to 1 for some time.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    fun4everyone wrote: »
    Unsurprising but disappointing, thanks for the heads up OP. Had a good run there at least. More P2P beckons, as well as learning about the stockmarket.

    Totally different ball games. The question being how much can you afford to lose? Chasing yield isn't a strategy. There's always been high yield available. Trouble is now at current price levels. Risk factors are being totally ignored in chasing a dream with no real premium for what's at stake.
  • Ed-1
    Ed-1 Posts: 3,891 Forumite
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    Kim_13 wrote: »
    Nothing mentioned about BOS, but Halifax changes coming apparently http://www.moneysavingexpert.com/news/banking/2016/10/club-lloyds-to-slash-interest-rate-from-4-to-2?_ga=1.85254878.696116361.1412375433

    Odd, as I'd think the BOS accounts are costing them more money than the Halifax Reward that has been restricted to 1 for some time.

    The BOS Vantage has only recently changed to requiring 2 direct debits. Banks tend to not like making changes in close succession.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    Thrugelmir wrote: »
    Totally different ball games. The question being how much can you afford to lose? Chasing yield isn't a strategy. There's always been high yield available. Trouble is now at current price levels. Risk factors are being totally ignored in chasing a dream with no real premium for what's at stake.
    Great for those of us already holding defensive assets though, as the price bubbles up to silly levels, which in turn helps boost the assets we bought for more speculative growth or income.

    It's like a Russian Roulette version of pass the parcel, everyone wants to get to have a go holding it for a while, but make sure you're not left holding the bomb when it goes off.
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