Lloyds TSB increases rates on fixed rate cash ISA
Released on: March 30, 2009, 9:20 am
Author: Amanda Glover
Lloyds TSB announces that it will be increasing rates on its
Fixed Rate Cash ISA by up to 1 per cent.
Available from 24th March 2009, the rate on the Lloyds TSB Fixed Rate Cash ISA is
guaranteed for 12 months from the date of account opening. Accounts can be opened
with a minimum deposit of £3000 and will accept transfers from previous tax years.
Colin Walsh, managing director savings and investment at Lloyds TSB said: "This
latest rate increase is just one example of how we are working to help savers make
the most of their money in today's difficult economic climate. Given the current
low rate environment, it is more important than ever to make use of your tax free
allowance and we would encourage savers to take action before the tax year end on
Existing customers who already hold a balance within the improved tiers will also
see their rate increase from the 24th March. This means customers who have a balance
of £9000 or more will earn a guaranteed rate of 3 per cent for 12 months.
Research from the bank shows that almost half of savers would prefer a fixed rate,
in today's uncertain economic climate.
Colin Walsh continued: "The ISA market has been active for ten years now and many
savers have built up a substantial tax free nest egg. Unlike a number of the
headline ISAs on the market, our
product allows customers to transfer in their previous ISA savings, so they can earn
a competitive rate on the maximum balance."
More information on the Lloyds TSB Fixed Rate ISA is available through branches of
Lloyds TSB or online.
- Ends -
Notes to editors:
Rate increase applies to 2009 Fixed Rate Cash ISA launched on 16th
February 2009. Rates on 2008 Fixed Rate ISA remain unchanged.
About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts,
insurance, personal loans and credit cards, designed to meet different customers'
Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the
Financial Services Authority and signatories to the Banking Codes.
Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN.
Registered in England and Wales no. 2065.
For more information or case studies contact:
Lloyds TSB Press Office
Media Relations Manager
Lloyds TSB Press Office
25 Gresham Street
020 7356 2021