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Lloyds TSB Fixed rate ISA paying 6.5%

Last post Mon, Apr 28 2008, 11:00 AM by Optimist. 25 replies.
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  •  Mon, Apr 28 2008, 11:00 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    I don't understand why LTSB made it so complicated for you. I did the same; opened the 6.5% ISA and signed the necessary forms to effect the Txfr from my 'old' ISA with another bank (that was on 9th April: money still not txfrd yet, but told this could take up to 34 days). Meanwhile, have put in the £3.6K for 2008/09. As I understand it, you can open one ISA per fin. yr., so you can open a new one with anyone else the next year. The info I got from LTSB was very straightforward. Did you manage to get th 6.5% before they closed the ISA? :
    • Post Points: 5
  •  Tue, Apr 22 2008, 8:38 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    Dear Bacus

    This product does not appear on the LloydsTSB website so where do I get more information / confirmation from. I was looking for a fixed rate for this year's funds and also a provider that accepted transfers from previous years. I like the sound of a 6.5% one-year fix so await your response with interest.

    Ebabe

    • Post Points: 5
  •  Tue, Apr 22 2008, 1:03 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    Thanks for replies re 90 day penalty.

    Thought this was a bit unfair to apply it to the full amount, so went with Abbey's Direct ISA at 6.25% instead which has no such penalties. :)

    • Post Points: 5
  •  Thu, Apr 17 2008, 5:28 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    What branch did you go to this and who did you see?
    • Post Points: 20
  •  Wed, Apr 16 2008, 9:16 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    All financial institutions are wary of lending money to each other, which means that the public becomes a very good source of money and they might actually have to fight over us to get us to deposit with them ... it can only be great news for savers, as this will mean better rates for us.
    • Post Points: 5
  •  Wed, Apr 16 2008, 9:03 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    At a branch. I only went in to ask for latest interest rates. Had to mention thought 6.5% rate had stopped, but they told me full story not sure when it ends think this credit crunch is hitting even the big boys.
    • Post Points: 35
  •  Wed, Apr 16 2008, 8:56 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    you did well for them to offer the 6.5%.Was that in a branch or online?
    • Post Points: 20
  •  Wed, Apr 16 2008, 8:06 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    Lloyds have re-openen his isa due to high demand. Got one today purely by chance 6.5%. They lost 1/4 million when stup ISA for 2 days. Saleman told me Barclays had one still open for 6.5% so Lloyds opened theres back.

    Get in there fast

    • Post Points: 35
  •  Tue, Apr 15 2008, 12:42 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    re LloydsTSB
    The 6.5% offer is closed
    The 5.0% offer is open

    So if you were after a fixed rate ISA you'd be better off elsewhere, like say the Nationwide Building Society's 6.15% Fixed Rate ISA Bond
    http://www.nationwide.co.uk/savings/rates.htm

    • Post Points: 20
  •  Tue, Apr 15 2008, 10:47 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    Just to let everyone know....This offer is now closed! Just rang them to confirm this....
    • Post Points: 20
  •  Tue, Apr 15 2008, 7:38 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    As Linus and another posted in this thread last week (Wednesday), the 6.5% rate was not going to last into this week. The LloydsTSB advisor who I dealt with last Thursday was surprised to hear this, but then he said head office where often not the best at letting the branches know. The other thing that is slightly confusing some people is that LloydsTSB are still offering a fixed rate bond ISA where the applications close on 31 May 2008, it's just that they slashed the rate to 5.0%. So the advertising in the Mini Cash ISA booklet in branch is the same ... notice that the interest rate was never printed in that but in a separate leaflet. So it looks like the headline 6.5 rate was always likely to go before 31 May.
    • Post Points: 20
  •  Tue, Apr 15 2008, 7:22 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    If you look on the Lloyds TSB website, it's been withdrawn!
    • Post Points: 20
  •  Tue, Apr 15 2008, 4:36 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    I opened one of these on Friday in my local branch. It took ages! I had all my other ISAs to transfer as I'm fed up with keeping tabs on different rates with all those different societies. They had to have details of all the transfers I wanted straight away at the same time as I opened the 6.5 rate isa for this year. They said the rate wouldn't last this week, so be speedy!
    • Post Points: 20
  •  Fri, Apr 11 2008, 7:55 AM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    I went along to an Abbey branch yesterday to open my Direct ISA account, like I was recommended to by the central customer relations department. After waiting around four minutes for my turn to speak to the person she then said I would need to make an appointment to see their financial advisor who was off sick that day. I pointed out that I didn't want financial advise, but wanted to open the direct ISA. She said I had to see the financial advisor as they needed to take me through the terms and conditions. I said, all I need to do was sign them to show I understood them, which I already did, she said, no the financial advisor needed to go through them. I said that doesn't make sense as if I open the account online all I needed was to tick the box to say I had read and understood them. I also told her that after phoning Abbey's central customer relations department, they had told me that the best and easiest way to open an account as a new customer was to go into a branch as I had one five minutes from work, and that now she (the woman in branch) was showing that this was not the case. She restated her case that I needed to see a financial advisor to open the account. I said, no I don't, and that if she would not open an account for me here and now I would take my custom else where. She said I couldn't, so I told her well I'm taken my business elsewhere (in a loud voice to make sure other customers heard) and walked across the road to LloydsTSB.

    Here, after a similar wait, I was asked did I want to make an appointment or do it now. Now please! And did I need/want an explanation of the T&C, to which I smiled and said no, I am fully aware of them having read them online, and he smiled to saying good. Also what was interesting was that LloydsTSB only needed my National Insurance number and EU style passport as a new customer. While chatting I asked how come I only needed one proof, to which he replied, if you use an EU style passport, that covers you for proof fully, despite no address on it! Don't you just love the way different financial organisations interpret the rules differently?!!

    So my one piece of advise for you? If you are opening an Abbey ISA in branch make sure you ring ahead and make an appointment with their financial advisor as no one else in branch will allow you to just sign the fact you have read and understood the T&C ... well certainly not in the Tottenham Court Road, London branch!!

    And yes the loss of interest is on the entire balance for any withdrawals in the first 12 months. You are right, this is not clear / easily found online, but it is clear in the paper literature.

    Oh, and the bit that says "Additional deposits are not permitted once the opening investment has been made."
    Well if you write a cheque for this years deposit, £3,600, you can fill in their paperwork for the transfer of old ISAs at the same time and though the other ISA's obviously get credited later on their exact transfer date, they all do count as the opening investment.

    • Post Points: 5
  •  Thu, Apr 10 2008, 2:26 PM

    Re: Lloyds TSB Fixed rate ISA paying 6.5%

    Bank has just phoned me re. 90 days lost interest. If a withdrawal is made within the 12 month fixed period the 90 days loss is on the whole amount in the account, i.e. If £24,000.00 is in the account the interest for the year would be £1560. However if any amount is drawn out, whether small or large, the interest would only be approx. £1170, the loss being £390.00. Some shock eh. You think you've got a good deal until you dig deeper, but, hey, it's only money!!
    • Post Points: 20
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