By choosing the right current account, you could get more from your money. Here are our top tips for making your money go further...
1. Make the most of interest rates
A great way to make the money in your current account go further is to take advantage of the interest rates on offer.
With Lloyds TSB, if you pay at least £1,000 into your account each month and stay in credit you'll be able to add Vantage -extra interest rates which help you earn more on the balance in your current account.
With our Classic account with Vantage you'll get:
- 1.5% AER1 / 1.49% Gross on balances between £1 and £1,000
- 2.00% AER / 1.98% Gross on balances over £1,000
- 3.00% AER / 2.96% Gross on balances between £3,000 and £5,000
The interest you earn will be paid into your account monthly so you'll always be able to check how your account is performing.
2. Take advantage of added benefits
Many current accounts come with extra benefits which could save you money and help you get more from your account.
With a Lloyds TSB Added Value account you'll be able to take advantage of benefits such as travel insurance, AA Breakdown Cover and Mobile Phone Insurance.
Our insurance benefits are provided by specially chosen third party providers. You'll find all the details of the providers, including the cover you'll receive and the exclusions and limitations on our website or by asking in Branch, there are also listed in your welcome pack when you open your account
You'll need to pay a monthly fee for an Added Value account, but it could save you money - especially if you're already paying for some of the extra features like mobile phone and travel insurance from another provider.
By getting them through your bank account, you can reduce their cost and make it easy to manage all of your services.
3. Compare different accounts
At Lloyds TSB we have a wide range of bank accounts, each one with different benefits to suit you.
When you're choosing an account, make sure the extra benefits on offer are relevant to you. If you don't need worldwide travel insurance for example, then paying for an account which includes it may not be the best way to spend your money.
To help you choose the right account, we've set up an area on our website where you can compare bank accounts from Lloyds TSB.
4. Keep track of your money
It's always a good idea to keep an eye on your money so you know what you have available to spend.
With LTSB Internet Banking and Mobile Phone Banking you can access your current account 24/7.
Just log in to see your balance, review your statements and make payments any time, any place.
You'll be able to manage your money when it suits you so you can keep on top of your finances.
5. Avoid overdraft charges
If you think you'll go overdrawn on your account from time to time, think about choosing an account that doesn't penalise you.
Overdraft penalties can add up and you could find yourself losing a substantial amount of money, even if you only go a few pounds overdrawn.
With all Lloyds TSB accounts you'll get a £10 overdraft buffer so if you go less than £10 overdrawn you won't have to pay overdraft fees or interest.
If you go overdrawn by more than £10 you can still avoid charges. You'll have a grace period on all Lloyds TSB accounts until 3:30 (UK time) to pay in some cash or transfer money from another Lloyds TSB account to make sure you're back within your account limit.
Want to add these great features to your current account? Find out how you can switch account to Lloyds TSB today
1. AER (Annual Equivalent Rate) is the rate if interest was paid and compounded once a year.