Deadline approaches for Lloyds TSB Vantage account 4% offer

Wednesday, 24 October 2012 11:21

The deadline for opening a Lloyds TSB Vantage account is fast approaching.

The deadline is 31st October. The account allows customers to earn four per cent interest on balances between £5,000 and £6,000 as long as they pay in £1,000 each month.

This interest rate applies until 31st October 2013. 

Customers can earn £235.80 in gross credit interest on their current account in 12 months. This is a great rate for a current account and there are no fixed rate savings bonds that will pay four per cent interest over a one-year term.

With a Vantage current account customers can earn between 1.5 per cent and four per cent on their balances as long as they pay in £1,000 a month, keep the account in credit at all times and have a minimum of two direct debits set up.

Customers can earn 1.50 per cent on balances above £1, two per cent on balances between £1,000 and £3,000, three per cent on balances between £3,000 – £5,000 and four per cent on balances between £5,000 – £6,000.

Jatin Patel, director of current accounts for Lloyds TSB, said: "These days, there is very little opportunity for people to earn credit interest on their current account, however by adding Vantage to a Lloyds TSB account people can do just that. 

“We have paid out over £200 million in credit interest since Vantage launched in 2008 and our latest offer to earn up to 4% AER demonstrates our ongoing commitment to our customers. 

"Customers have until 31st October 2012 to take advantage of this offer and by doing so they can make sure their money works even harder for them over the next year."


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