Lloyds TSB Monthly Saver account has ‘no strings attached’

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Lloyds TSB Monthly Saver account has ‘no strings attached’

The Lloyds TSB Monthly Saver account has been launched paying eight per cent interest on deposits of between £25 and £250 for two years.

The new savings account is available to both new and existing customers of Lloyds TSB, current account holders can put in up to £750 initially to give savers a boost from the outset.

The Lloyds TSB Monthly Saver account is aimed at giving greater flexibility to savers who can access their money whenever they want, although once withdrawn amounts cannot be put back in.

Lloyds TSB is hoping the new savings account can give customers what they want and give them an edge in the highly competitive savings market.

Paul Pester, director of consumer banking at Lloyds TSB, said: "We looked at what our competitors are offering and found their products too restrictive. Many only offer the high rate of interest for 12 months, others don't allow withdrawals and some, like the Alliance and Leicester account, is only available to new customers."

The Lloyds TSB Monthly Saver account launched today should enable savers to gain a good return on their savings, while also having control over their money.


comes as customers are aware that they don't have to settle for poor returns on their savers accounts and will be interested too in greater flexibility.

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