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New Fixed Rate Cash ISA from Lloyds TSB

New Fixed Rate Cash ISA from Lloyds TSB

Category: Savings

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Lloyds TSB are giving customers the chance to save at a rate of 3.2% with their new Fixed Rate Cash ISA. This new rate is guaranteed for 12 months from the date of opening the account.

The Fixed Rate Cash ISA can also accept transfers in from previous tax year's savings; however the account must be opened with a minimum one off deposit for 2009/10 tax year of £3000.

Speaking on this fixed rate, Janet Pope, savings and investments director at Lloyds TSB said: "In this unpredictable rate climate, savers are moving towards fixed rate products. The security of knowing exactly how much you will earn on your savings is invaluable in today's uncertain environment. This product is ideal for those looking to get a guaranteed, tax free return on their nest egg."

Lloyds TSB spoke to its ISA members to gauge opinions on savings vehicles for the upcoming tax year - 46% indicated that they would be looking for a fixed rate with only 11% looking to try a variable rate ISA.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.