Lloyds TSB current accounts interest offer launched

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Lloyds TSB current accounts interest offer launched

Mon 9th Jun 2008

Lloyds TSB has announced a new offer for customers opening a Plus current account between now and July 13th 2008 of six per cent AER credit interest.

The interest will be accruable from the date the account is opened on balances up to £25,002.

After the 12-month bonus period ends, customers will receive a standard rate of four per cent AER.

In order to qualify for a Plus account customers must be earning a minimum of £1,000. The feature can be added to a number of Lloyds TSB account, including the fee-free Classic and the bank's Gold, Platinum and Premier accounts.

Catherine McGrath, director of current accounts at Lloyds TSB, said: "While many of our competitors are cutting the interest they pay to customers on their current accounts, we're bucking the trend offering one of the best deals on the market."

In related news, Barclays recently announced changes to its current accounts for personal customers, including the launch of an overdraft service called Personal Reserve and the introduction of new accounts.

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