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Grumblewagon
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Grumblewagon is offline
Aberdeenshire
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11-10-2015, 05:08 PM
1

Tax, savings and pensions.

Been away for a few days and when I got there was another pile of paperwork waiting for me. Much to my surprize, the tax people seem to have got the correct code to allow for my State pension.

Lloyds bank seem to have upgraded my accounts OK and I can now get 4% on the first £5k of my current account. Our new TSB accounts have been set up and they give 4% on the first £2k of the current account and 4% on up to £500 (between us) a month on a regular savings account.

Of course, this needs a bit of juggling money between accounts, but I'll set up standing orders to do that. Not as good as it used to be, but some interest is better than none. Phew.

Hopefully now I'll be able to enjoy my pension !
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Muddy
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14-10-2015, 11:48 PM
2

Re: Tax, savings and pensions.

please can you tell me what accounts these are I cant find any that give 2% much less 4% thank you.
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Grumblewagon
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Aberdeenshire
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15-10-2015, 01:35 PM
3

Re: Tax, savings and pensions.

If you join 'Club Lloyds', then Lloyds bank gives a tiered interest up to 4% on the first £5k of your classic current account. Club Lloyds easy saver also offers a monthly savings account for 1 year @ 4%. I think the savings limit is £20k.

TSB is not so generous but has few strings attached. 4% on the first £2k in the current account and 4% on savings of up to £250/month for 1 year.
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Muddy
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15-10-2015, 03:26 PM
4

Re: Tax, savings and pensions.

Thank you I had heard of the club lloyds as I am with lloyds but could never work out if it was worth doing or not .
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Grumblewagon
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Grumblewagon is offline
Aberdeenshire
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15-10-2015, 07:35 PM
5

Re: Tax, savings and pensions.

There are strings attached to Club Lloyds to get it for free. You need at least £1500 going in per month and at least 2 direct debits going out. Otherwise it costs £5 a month.

TSB also give 5% cashback on the first £100 of 'contactless' purchases per month. Other banks may offer similar deals, but as I have accounts with Lloyds and TSB, I'll make the best use of them.
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29-10-2015, 07:16 PM
6

Re: Tax, savings and pensions.

To get 4% banks normally expect a monthly payment of at least £1000 depending on which bank.

We took out "granny bonds" which pay out 4% tax free providing the amount is left in the bonds for 3 years and then only £10,000 per person allowed maximum. it was for people over the age of 65 only and now the offer has closed
 

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