Up to 4% credit interest on a current account

Lloyds TSB is committed to offering its current account customers long-term good value by not promising rates that last only a few months.  Vantage is available to all existing Lloyds TSB mainstream current account customers and for customers that aren't with Lloyds TSB yet, they can select Vantage when they join.  Vantage offers a rate that beats many savings products and unlike the headline rates you see on the high street it will not drop to a ‘standard rate' after the introductory term.   Switching to Lloyds TSB couldn't be easier.  With a dedicated Welcome Team on hand, customers will see their standing orders and direct debits transferred with ease.  

Vantage credit interest tiers:

£0 to £1,000 0.1%
£1,001 to £3,000 2.0%
£3,001 to £5,000 3.0%
£5,001 to £7,000 4.0%

The rates are paid on the entire balance in the account so if there is £4,500 the account will earn 3%.  Similarly, with £6,000 in the account, it will generate a 4% interest rate.  Should there be more than £7,000 in the account, the first £7,000 will receive a rate of 4% .  For customers with balances over £7,000, we have a range of savings accounts to meet their needs

To take advantage of Vantage, customers only need to credit their account with £1,000 each month and stay in credit.  Interest is calculated daily, is credited monthly and is not an introductory offer.

Jatin Patel, director of personal current accounts at Lloyds TSB, calls on the industry to play fair to consumers and offer them long-term good value:

"For too long, the industry has been focused on attracting customers with switching incentives and interest rates that only last for a matter of months.  It's time that providers play fair and offer long-term good value and we call for change in the market place.  Many of our customers tell us that they want a rate that will continue to offer them good value and help their money work harder for them.  This is why we developed Vantage.  Vantage is a fee-free bolt-on to our current accounts which our customers can take advantage of to start receiving a great return on their money.  We're doing this, at a time when many of our competitors are removing the option for their customers to receive credit interest on their current accounts.

"Vantage is good for everyone but particularly those that do not have the time to scour the market every six months to ensure they're getting a good deal.  This is a simple product which does what it promises to do.  It pays a good rate over the long-term.  It's as simple as that."