Lloyds TSB makes rate cut pledge

Lloyds TSB adds to its fixed rate ISA range

Lloyds TSB has added two new fixed rate cash ISAs - a three year and a four year account - to its tax free savings range.
Lloyds TSB and C&G make rate cut vow

Lloyds TSB and Cheltenham & Gloucester (C&G) have vowed to pass on any base rate cut made today to its customers on variable and tracker mortgages.

Wednesday, 07 January 2009 12:00

Lloyds TSB has promised to pass on the next base rate cut in full to small businesses.

The commercial arm of the bank said, if the Bank of England slashes the base rate on Thursday, its business customers with variable rate loans and overdrafts will benefit.

The pledge is part of a six-point charter drawn up by Lloyds TSB for its Small and Medium Enterprise (SME) customers in a bid to ease pressures for them during the current economic downturn.

Among its methods of reducing burdens it is trying to provide more certainty on overdrafts and loans.

John Maltby, managing director of Lloyds TSB Commercial, said: "We are honouring the pledge made in our small business charter to pass on, in full, any base rate reductions until the end of 2009, so that the businesses [which] bank with Lloyds TSB have the most competitive rates and best possible ongoing support during these hard times."

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