Lloyds TSB launches new 18 month tracker savings bond

Lloyds TSB has launched a new tracker bond savings accounts currently offering new and existing customers an interest rate of 3.70% AER over an 18 month term. As the Bank of England base rate increases, so will the interest rate on these accounts.

Tracker Bond Key Features

3.70% variable for 18 months, interest is paid monthly at a rate of 3.64% gross (tracks 3.14% over the Bank of England base rate until maturity)
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

Greg Coughlan, Head of Savings at Lloyds TSB, said: "There is still a lot of uncertainty around when interest rates may start rising, leaving many consumers unsure of how long to lock their money away for. A Lloyds TSB tracker bond may be the ideal solution to ensure their interest keeps up with base rate rises as and when they do occur, whilst still ensuring a good return in the medium term."