Lloyds TSB's Plus Account

Emma Walkley, Current Account Manager at Alliance & Leicester comments on the recent change to the Lloyds TSB's Plus Account: "The penny seems to have finally dropped. This rate increase for Lloyds TSB's Plus current account customers is a sign that at least one of the Big Banks is starting to recognise the importance of giving something back to customers.

"Alliance & Leicester has led the way on this for years, consistently being recognised as the best current account provider in the market with our award winning Premier Direct account, and we have always championed the benefits of ditching your out-of-date account and switching.

"When looking around for a better current account, customers need to consider the whole deal before signing up. While Lloyds TSB's Plus account rate is an improvement on their previous offer, it is still significantly lower than our Premier Direct account at 8.5% AER.

"What's more the minimum funding requirement of £1,000 is double that of Premier Direct at just £500 per month - the lowest funding of any account paying credit interest over 0.10% AER."

Customers opening a Premier Direct current account with Alliance & Leicester not only receive the best credit interest rate available on the market for the first year, and a great ‘go-to rate' for subsequent years, they will also benefit from the unique interest free overdraft structure including fee-free for the first 12 months.

To find out how you could get more out of your current account or for more information on Alliance & Leicester's Premier current accounts log onto alliance-leicester.co.uk/currentaccounts. To compare the credit interest on your current account with Alliance & Leicester's Premier Direct Current Account, log on to bigbankchallenge.co.uk.