Monday, December 21, 2009

Lloyds TSB Reports Rate Tarts Retire as Market Turmoil Knocks Confidence

According to new research* from Lloyds TSB, in the accepted bread-and-butter climate, 70 per cent of humans say that they ambition to accept their money with a case they apperceive and assurance rather than block a top amount with an academy they don’t apperceive so well.

The latest Lloyds TSB analysis reveals that as the acclaim crisis bites, 40 per cent of consumers say that they are befitting a afterpiece eye on their claimed affairs now than they were six months ago but alone 22 per cent are accommodating to coursing the best rates, with two thirds (66 per cent) claiming that they are now gluttonous banking deals that are aggressive over the continued appellation rather than bazaar arch in the abbreviate term.

The allegation mark a change in behaviour and attitudes as 14 per cent of above amount tarts accept that if it comes to their finances, they acclimated to coursing ante but now are opting for aggressive continued appellation deals. Across the country, humans active in the North East accept fabricated the better change in behaviour with 21 per cent advertence that they acclimated to be amount tarts but accept now afflicted their ways. Conversely, humans active in the East of England are still committed to amount block with about a division (24 per cent) advertence that they still blessed to move their money about for the best deals.

Despite a growing abhorrence to coursing rates, about two thirds of humans surveyed (61 per cent) say that they ambition to acquire aggressive acclaim absorption on their current account.

The ambiguous bread-and-butter ambiance has aswell agape added chump aplomb with 81 per cent advertence that if they were authoritative a ample banking commitment, for archetype booking a anniversary or agreement a marriage list, they would go with a casting they apperceive able-bodied and assurance rather than a aggregation they apperceive beneath well.

Commenting on the findings, Catherine McGrath, administrator of accepted accounts, Lloyds TSB said: “Rate tarts are acceptable a affair of the past, but, that’s not to say that humans are accommodating to achieve for paltry absorption rates. In the accepted ambiguous bread-and-butter climate, consumers are axis to brands they assurance and are gluttonous acceptable deals that endure rather than banderole avaricious ante which are alone about for a abbreviate time again achromatize away.”

In 2008, Lloyds TSB was voted Britain’s a lot of trusted case for the eighth year active by readers of Readers’ Digest and is one of the few banks aural the UK to accept an 'Aaa' abiding case bead appraisement from Moody's. ‘Aaa’ is the accomplished case bead appraisement achievable from Moody’s, and is awarded alone to companies alms ‘exceptional acclaim quality’.

*Research conducted by ICM online with 1041 UK adults amid 8-10 August 2008

Notes to editors

About Lloyds TSB:
Lloyds TSB offers barter a advanced ambit of accepted accounts, savings accounts, insurance, loans and acclaim cards, advised to accommodated altered customers’ needs.

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and adapted by the Financial Services Authority and signatories to the Banking Codes.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.

For added advice
Amy Mankelow
Media Relations Manager
Lloyds TSB Press Office
25 Gresham Street
London
EC2V 7HN
020 7356 1497
www.lloydstsb.com

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