We know savers are uncertain whether to lock their savings away for a fixed period with the continued speculation that interest rates will change.
(PRWEB) April 28, 2011
Lloyds TSB today announces two new additions to its savings range with the launch of two Tracker Bond saving accounts. Offering new and existing customers an interest rate of 3.00% over a 1 year term and 3.30% over a 2 year term, the bonds are available from Tuesday 26th April.
As speculation mounts of an impending interest rate rise, Lloyds TSB has calculated in the case of one interest rate rise of 0.25% this year, a 1 year Tracker Bond customer would earn £8091 in annual interest, 18 per cent higher than the average interest earned from a fixed rate bond over the same period.
Greg Coughlan, Head of Savings at Lloyds TSB said, “We know savers are uncertain whether to lock their savings away for a fixed period with the continued speculation that interest rates will change.
“Taking these concerns on board, we have designed two new Tracker Bonds which offer the best of both worlds, a competitive return and peace of mind for those wishing to ensure their savings pot keeps pace with any change in interest rates.”
Tracker Bond Key Features
- 3.00% AER/Gross for 1 Year (tracks 2.50% over the Bank of England base rate until maturity1)
- 3.30% AER/Gross for 2 Years (tracks 2.80% over the Bank of England base rate until maturity1 )
- Minimum balance of £2,000
- Maximum balance £1,000,000
- Available to both new and existing Lloyds TSB customers
- No withdrawals allowed during the term
- Open in branch or by telephone
For more information please visit http://www.lloydstsb.com/savings. To apply please call 0845 3 000 000.