Lloyds TSB to pass Base Rate cut on to small businesses

As part of its six-point small business Charter, Lloyds TSB today announces that it is passing on, in full, today's one per cent cut in the Bank of England base rate to all its small business customers with variable rate loans and overdrafts.

The rate change will be effective from Friday 5th December 2008.

John Maltby, managing director, Lloyds TSB Commercial, comments: "Today we are carrying out the pledge made in our new small business Charter to pass on in full any base rate reductions until the end of 2009. This is exactly the kind of action that small businesses need to help support them through these tough economic times.

"We're determined to ensure businesses that bank with Lloyds TSB enjoy the most competitive rates and best possible ongoing support."