Lloyds TSB Plus account rate lifted

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Lloyds TSB Plus account rate lifted

Mon 3rd Sep 2007

Lloyds TSB has raised the AER on its Plus account range to 6.4 per cent.

The introductory rate will last for twelve months from the date the account is opened and applies to balances of up to £2,500.

Customers will qualify for the higher rate as long as they deposit £1,000 a month into the account. After the first year, the rate reverts to 4.25 per cent.

Ian Larkin, managing director of consumer banking at Lloyds TSB, said that the Plus range offers not just a great rate for a year "but a great rate for life".

"Since launching Plus four years ago, we have consistently upped the interest we pay our customers," he said.

"We hope that this offer will encourage more people to take a long hard look at their current account and find one that won't pull the rug from under their feet."

Last month, Lloyds TSB claimed to have made it simpler for Poles arriving in the UK to set up bank accounts with the opening of a bilingual call centre.

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