Guaranteed Tracker

Guaranteed Tracker Terms and Conditions for accounts opened on or after 18 September 2007
If your account is with a branch in Scotland your agreement is with Lloyds TSB Scotland plc, otherwise your agreement is with Lloyds TSB Bank plc.

The Personal Banking terms and conditions apply to your Guaranteed Tracker account.

You can apply to open a Guaranteed Tracker account with £1 (Minimum Opening Balance) or more.

Before opening an account, we may take up references or otherwise satisfy ourselves of your identity and suitability as an Account holder.

We display the current rates of interest paid on Guaranteed Tracker accounts in our UK branches and they can also be found our website.

We agree to pay gross annual interest rates which track the Bank of England Base Rate until 31 July 2009.

For account balances between:

• £1 and £9,999, the interest rate will be no lower than 2.10% below the Bank of England Base Rate,
• £10,000 and £24,999, the interest rate will be no lower than 1.85% below the Bank of England Base Rate,
• £25,000 and £49,999, the interest rate will be no lower than 1.60% below the Bank of England Base Rate,
• £50,000 and £99,999, the interest rate will be no lower than 1.45% below the Bank of England Base Rate,
• £100,000 and above, the interest rate will be no lower than 1.35% below the Bank of England Base Rate.

When the Bank of England base rate changes the interest rate on your Guaranteed Tracker will change (which could be up or down) on the same day.

From 1st August 2009, the gross annual interest rates payable in respect of your account will be variable.

If your account has a balance below the Minimum Opening Balance you will not earn any interest.

We will pay interest once a year. Annual interest is paid on the anniversary of Account opening. If the interest payment date is not a working day, interest is paid on the next working day.

We will credit interest to the account nominated by you.

If you are not happy about your choice of savings account we will help you switch to another of our accounts or we will give you all your money back with any interest it has earned.

No withdrawals by Standing Order or Direct Debits are permitted on the account.

Guaranteed Tracker is available to those aged 16 and over AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once every year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

Gross – is the contractual rate of interest payable before deduction of income tax at the rate specified by law.

Net – is the rate of interest which would be payable after allowing for the deduction of income tax at the rate specified by law.