UK Money News
8th February 2008
Lloyds TSB launches new Isa
As competition hots up among independent savings account (Isa) providers, Lloyds TSB has announced the launch of a new high interest product.
The Fixed Rate Cash Isa offers investors a rate of 6.5 per cent for an investment of £9,000 and 5.15 per cent for those depositing between £6000-£8,999.
Meanwhile, savers holding between £3,000 and £5,999 will benefit from a rate of five per cent.
The Isa also offers the option of boosting the premium by 1.5 per cent for customers who invest an equal or greater amount in a Scottish Widows Investment Isa.
Liz Hogbin, savings and investment director at Lloyds TSB, said that yesterday’s cut to the base rate of interest is set to drive demand for Isas in the coming months.
She predicted: "With base rates looking likely to fall over the coming months, many savers will value the security that a fixed rate offers.
"This Fixed Rate Cash Isa is perfect for people who have been saving in an ISA for a few years, have a nicely growing nest egg and want to make the most of their savings."
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