Lloyds TSB: 5% interest for savers

Tuesday, 26 May 2009 12:00

Lloyds TSB is now offering interest of five per cent on its Monthly Saver account.

The bank, which has increased the interest rate on the account today, is offering the rate to savers who deposit between £25 and £250 per month.

And customers can gain instant access to their savings without incurring a penalty.

Colin Walsh, managing director of Savings and Investment at Lloyds TSB, said: "Given the uncertainty around us, getting into the savings habit has never been more important.

"This is why we want to make it as easy as possible for our customers to build a nest egg and provide the added incentive of a competitive rate."

The Monthly Saver account, which is available to Lloyds TSB current account holders only, can be opened in a branch or by telephone.

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