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Post by uncletone on Jan 4, 2017 9:27:57 GMT
Today is the day TSB hacks their famous 5% on £2000 down to 3% on £1500.
The child bride and I have six such accounts. We're struggling to justify 144 standing order transactions of £500 each a year in order to net £216 interest.
I guess it might be time to take the decorations down...
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Post by wickedxuk on Jan 4, 2017 11:25:23 GMT
I now keep very little cash in current accounts (liquid cash only in old drip feeders at 5% waiting to expire). I had a few of the TSB accounts and the monthly 5% savers which have just expired and sat empty now.
Worthy of note is Lloyds have cut their monthly account fee to £3 though (waved for depositing £1,500) and still pay 4% on balances of £4-5k AND pay 2% on £1-1000 (better then Santander 123 if you don't have the cashback bills/mortgage). And you get the Club Lloyds benefits too, I get the 6 (×2 for the wives account) cinema tickets which is worth quite a lot these days (12*£6-7 a cinema ticket ~£70+).
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registerme
Member of DD Central
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Post by registerme on Jan 4, 2017 11:37:27 GMT
wickedxuk, which Lloyds account offers 5%? I'm looking at their site at the moment and can't see it.
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Post by wickedxuk on Jan 4, 2017 11:42:35 GMT
wickedxuk , which Lloyds account offers 5%? I'm looking at their site at the moment and can't see it. It's 4% buddy link to the Lloyds page. They did have a monthly saver at 4% too of which I have two but coming to an end now. They have 3% mo thly saver now. Nationwide do a 5% saver for £500 a month though which I have a few months left to run on.
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SteveT
Member of DD Central
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Post by SteveT on Jan 4, 2017 11:47:57 GMT
wickedxuk , which Lloyds account offers 5%? I'm looking at their site at the moment and can't see it. It's 4% buddy link to the Lloyds page. They did have a monthly saver at 4% too of which I have two but coming to an end now. They have 3% mo thly saver now. Nationwide do a 5% saver for £500 a month though which I have a few months left to run on. Don't get too excited. It was already announced that the 4% rate (for a Club Lloyds current account) is about to halve to 2% this month.
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Post by wickedxuk on Jan 4, 2017 12:00:59 GMT
I now keep very little cash in current accounts (liquid cash only in old drip feeders at 5% waiting to expire). I had a few of the TSB accounts and the monthly 5% savers which have just expired and sat empty now. Worthy of note is Lloyds have cut their monthly account fee to £3 though (waved for depositing £1,500) and still pay 4% on balances of £4-5k AND pay 2% on £1-1000 (better then Santander 123 if you don't have the cashback bills/mortgage). And you get the Club Lloyds benefits too, I get the 6 (×2 for the wives account) cinema tickets which is worth quite a lot these days (12*£6-7 a cinema ticket ~£70+). The Lloyds rate drops to 2% up to £5000 in 3 days time! Ah bummer. I totally mis-read the welcome pack. The new 2% was on put on one row and my brain saw this as the £1-1k bracket. Oh well. 2% is still better for idle funds. I move money around so much. I currently have the 123 for the cashback (still covering the fee+ a little extra), the nationwide for my BTL portfolio at 3% (£10 a month fee but that covers my travel insurance and breakdown etc) which also comes with the monthly 5%. I'm reducing the amount of liquid cash as the drip feeders expire though and this will be moved into either of the following in varying amounts; P2P; IFISA (pending who is able and what they offer) SIPP; ISA(S&S); LISA...??
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registerme
Member of DD Central
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Post by registerme on Jan 4, 2017 12:08:19 GMT
Ahh well, thanks to uncletone for a little bit of momentary new year excitement  . |
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jimbob
Member of DD Central
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Post by jimbob on Jan 5, 2017 16:41:00 GMT
Hmm
Looks like I'll have to take Lloyds down to the bare minimum (Have 2 DDs out of it) as I'm borrowing at 2.14% on the mortgage tax free (Offset) so need to earn at least 2.568% :s
Still at least the 6 cinema tickets annually are nice.
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