Lloyds TSB Dubai to launch "High Interest" promotion for one-year fixed deposits

The no-risk investment guarantees capital and interest with no administration fees for early breakage. The preferential rate of currently 4.75% is valid for deposits starting from AED 100,000.

Lloyds TSB Regional Manager Giles Cunningham said, "We aim to be the most recommended bank and have once again raised the benchmark to give the best deal to our customers. To widen the reach of these benefits, we have also decided to offer this promotion to all UAE residents including non-account holders."

Many financial institutions immediately apply the effect of rising interest rates to their lending products but keep their rates for call or savings accounts at a more constant level. Lloyds TSB however follows a customer champion policy of passing on the benefits of rising rates to its customers. This not only relates to fixed deposit rates, but also to paying interest on current accounts and a market leading 1% on call accounts.

A fixed term deposit ensures the customers security, risk management and total transparency of their investments, but usually at the cost of short-term availability and lower interest levels. Lloyds TSB now provides the unique opportunity to combine flexibility and a beneficial rate with investment security.

The main branch of Lloyds TSB is in Jumeirah, housed in a custom built landmark building, located on Al Wasl Road opposite Safa Park. The bank also has another Customer Service Centre located in the heart of the Arabian Ranches residential development in the Arabian Ranches Community Centre. Lloyds TSB Dubai employs 180 people and provides a full range of services including: Personal Banking, Commercial Banking, Corporate Banking, Offshore Banking, Private Banking, Treasury Services and Trade Finance Services. In addition to market leading auto and home loans, credit cards, personal and commercial loans, current and savings accounts, and fixed term deposits, Lloyds TSB Dubai also offers easy accessibility to telephone banking and secure internet banking 24 hours a day, 7 days a week.