Lloyds TSB to introduce new interest and fee-free planned overdrafts

Lloyds TSB is set to introduce or increase interest and fee-free amounts on planned overdrafts across its range of mainstream current accounts.

Therefore, customers could avoid incurring any charges should they dip into their planned overdraft at any point in the month.

With effect from 2 October 2012, subject to application and approval, customers can benefit from:

The introduction of an interest and fee-free planned overdraft amount of £25 on the Classic account, which has no monthly account fee

The introduction of an interest and fee-free planned overdraft amount of £50 on the Silver account

An increased interest and fee-free planned overdraft amount of £150 on the Gold account (currently £100)

An increased interest and fee-free planned overdraft amount of £300 on the Platinum account (currently £250)

Lloyds TSB and Bank of Scotland will be the only major high street banks to offer an interest and fee-free planned overdraft amount across their full range of mainstream current accounts.