.

city guide directory shopping reviews hotels
YOU ARE HERE: Cambridge Online > Cambridge City Guide > Lloyds TSB Bank > Reviews of Lloyds TSB Bank > Review

Quick Link: Lloyds TSB Bank

"RE Savings account with less than £200"

A review of Lloyds TSB Bank by Alex Walker - Saturday 18th of September 2004


Advertisements






In response to the question raised by ANnon, "if you continue to have below £200 in a savings account is there any real point in saving", I say the following: 
 
It is very common for a parent or grandparent to make a small desposit in a savings account for their child/ grandchild when they are born. This might be £50, £100, £200, and could be much more if they are lucky. The idea is that over the period sibling grows up, the money will grow with interest until some time when he/ she is mature enough and will be allowed to use it for something useful, perhaps a little extra help when they go to university. 
 
In circumstances like these, which are very common, one would therefore expect that a 'savings account' would not have an interest rate below the level of inflation, no matter how small the deposit. 
 
If a grandparent failed to check the interest rate, but instead trusted that it would be reasonable, and paid in say £100 for a grandchild, that grandchild would get a shock 15-20 years later because the absolute value of the deposit would have hardly grown at all in and inflation would have eroded its value in real terms to a meagre amount.




 » Agree? Disagree? Add your own review of Lloyds TSB Bank


 » Did you find this review inappropriate or offensive?


More Lloyds TSB Bank Reviews
View all Lloyds TSB Bank reviews  
Now showing reviews 1-5 of 38

View all 38 reviews »

  • Contact phone number debacle by Jilly rogers
    I have been trying to get through to Lloyds TSB using the only number listed = 08453 000 000 for 3 h...


  • Why 3 sheets of A4 for one bank statement by Alan Entwistle
    When I first started banking with LLoyds some ten years ago, my bank statement consisted of 1 A5 she...


  • Long queues - empty windows by John Andrews
    I should start by saying I have been a customer of Lloyds TSB for well over sixty years. My parents ...


  • Well done Sidney Street,Cambridge. by David C
    Can't see the problem with bank charges. I have banked with above for years and never incurred any. ...


  • Don't get mad, get EVEN by Chris J Denman
    I have given up with trying to negotiate with Lloyds TSB over £350 of charges in the space of ...


  •    View the complete list of Lloyds TSB Bank reviews »



    Advertisements
     
    Cambridge Online | About us | Reviews | Shopping | Business | Hotels
      The Cambridge Online website and its content is copyright (C) 2000, 2008 CSE. All rights reserved. The material on Cambridge Online is provided in good faith, but CSE excludes liability for inaccuracies, omissions and visitors' comments.