Bank of Scotland Vantage change

[planteria]

1.45% IA is good going Sarah. what's the very best available nowadays?

[Sarah]

Post Office Online Saver Issue 31 is the market leading easy saver account (according to latest MSE update).

That 1.45% rate for the Birmingham Midshires easy saver account was withdrawn within days:
viewtopic.php?f=9&t=1802&p=3159#p3159

[planteria]

with you. if i bag the POS31 i plan to put my Annual Stoozepot there.

[Sarah]

BoS are increasing the top rate from 1.5% to 2.0% with effect from 1 October 2019. That's a slightly surprising change, although they're also adding a lower tier at 1.0% which is a cut for anyone keeping less than £4000 in their account. I only retained one of these accounts, nevertheless a little more interest is always welcome.

[Sarah]

In another letter... Club Lloyds interest rates are also changing to the same tiers on the same date!

[DC.]

@sarah
Be careful, they worded it funny.

I found this https://www.moneysavingexpert.com/news/ ... rest-on-u/

Looks like it works differently to the tiers that Lloyds used to do, i. e. not the whole balance.
If you have £5000 you will get an effective rate of 1.2%

[Sarah]

Oh, that's sneaky! Boo, rubbish, etc!

[planteria]

yes, it wasn't That sneaky though.. it's clear in their letter.
i've tended to keep £4/5k in ClubLloyds, and that's been handy as the origin and destination of my 'round robin' funds -- but i'm planning to stash more away with a local Co-op and run my current accounts pot a lot leaner, even if it means cycling the same money a couple of times to ensure i qualify for ClubLloyds fee-free, for example.

[Sarah]

BoS Vantage and Club Lloyds dropping rates again from 1 October 2020; the new tiers become:

below £4000 - 0.6%
£4000 - £5000 - 1.5%
above £5000 - nada

[planteria]

it really isn't very appealing based upon those new rates..