When it comes to Cash ISA rates there is lots of information to take in. At Lloyds TSB we are here to guide savers through their Cash ISA options and help them make the most of their tax-free savings accounts. We can even steer you through a quick savings MOT to help you identify your savings needs.
With the increased annual Cash ISA allowance of £5,100 now available to all savers over the age of sixteen, there has never been a better time to look at saving into an ISA.
Broadly speaking, there are two types of Cash ISA rates – fixed and variable. With a fixed rate Cash ISA, you set your money aside for a fixed term and will be able to predict exactly what return you'll get on your savings. With the Lloyds TSB Fixed Rate Cash ISA, you will know how much you’ll have earned in two years’ time. So once you know what you will be able to afford to put in, you can set realistic targets and build a fairly accurate picture of your financial future. This ISA will pay you interest on the anniversary of account opening and upon account maturity. As it can be checked online, over the telephone and in our branches, you will always be able to keep an eye on your savings.
Our Lloyds TSB Cash ISA Saver is just one option that can be set up for regular savings contributions, but you should also consider putting as much of your annual allowance in as possible as a lump sum as early as possible. By doing so, you will be able to start earning tax-free interest more quickly and could get the best out of the facility this way. This particular Cash ISA also comes with a fixed introductory bonus of 1.50% AER for the first 12 months from account opening. Plus, the ability to manage it online makes it very easy to keep a track of your savings. But you should also remember that, as with any variable Cash ISA, rates can go down as well as up.
Of course, savers who have previously set up an ISA with another provider may be worried about the complications of moving their account to take advantage of all of the above. However, help is at hand as at Lloyds TSB we have processes in place to make the transition as easy as possible. We can even help you fill out the transfer forms and will keep you informed every step of the way. All you have to do is sit back and watch the money arrive into your new ISA.
Lloyds TSB offers a range of bank accounts and personal finance products. From savings to personal loans, mortgages to credit cards, we also offer a large range of insurance products including home insurance and car insurance. Wherever you want to get to, we’re here to help you on your journey.