Lloyds TSB increases rates on Fixed Rate Cash ISA

Lloyds TSB has announced that it will be increasing rates on its Fixed Rate Cash ISA by up to 1 per cent.

Available from 24th March 2009, the rate is guaranteed for 12 months from the date of account opening. Accounts can be opened with a minimum deposit of £3000 and will accept transfers from previous tax years.

Colin Walsh, managing director savings and investment, Lloyds TSB said: "This latest rate increase is just one example of how we are working to help savers make the most of their money in today's difficult economic climate. Given the current low rate environment, it is more important than ever to make use of your tax free allowance and we would encourage savers to take action before the tax year end on April 5th."

Existing customers that hold a balance within the improved tiers will also see their rate increase from the 24th March.

Colin Walsh continued: "The ISA market has been active for ten years now and many savers have built up a substantial tax free nest egg. Unlike a number of the headline ISAs on the market, our product allows customers to transfer in their previous ISA savings, so they can earn a competitive rate on the maximum balance."

For more information about Lloyds TSB savings and investments call into any branch of Lloyds TSB or visit lloydstsb.com/isa