99/0416 June 2004
GRADUATES TO FLY HIGH WITH LLOYDS TSB
University leavers will be able to fly even higher by taking advantage of Lloyds TSB’s offer of a return flight voucher to Paris, Rome, Barcelona, Prague, Brussels or Amsterdam. Lloyds TSB is offering the flights to all new customers who open a graduate account.
All graduate account customers will also be able to take advantage of a special mobile phone package – which includes a free mobile phone and £40 cashback when a customer buys a product from Dial-a-phone.
Graduates can choose the type of account to suit them from Lloyds TSB, including the option to 'go Gold' with a Graduate Gold Account and benefit from two per cent credit interest.
Both accounts have been designed with the different needs and aspirations of those fresh out of University in mind.
The GraduateAccount is a free account designed for those who are keen on reducing their overdraft in an easily manageable way. The account offers an interest-free overdraft1 of £2,000, which reduces in stages over three years to £1,000. This is to reflect many graduates' concerns over the debt they accumulated as students and their fears of carrying it forward into working life.
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For graduates who want more from their account and for whom the benefits are appealing, the Graduate GoldAccount is a more comprehensive option. This account offers the main benefits of a Lloyds TSB Gold Service Added Value Account. Globetrotting graduates in particular will like the fact that it offers free annual travel2 insurance, and there is also free AA breakdown cover and mobile phone insurance.
The account is free to graduate switchers for one year, while existing graduate account customers can convert their account to Gold for a monthly fee of £5*. There is also the additional benefit of an interest-free overdraft of £2,000 for three years and the offer of two per cent credit interest on balances up to £2,000.
Louise Williams, head of graduate banking, Lloyds TSB, says: "We’ve recognised that graduates are individuals with different lifestyles, needs and concerns, so our accounts have been designed to help and support graduates while they leave their student days behind them and set off on the next stage of their lives."
“The years following graduation are often full of the unexpected and circumstances can change considerably,” continues Louise. “So to ensure that their finances are flexible graduates can change their type of account at any point, without charge, during the three years that they are eligible.”
Graduates on either account will also be able to apply for a low cost Graduate Loan from 6.9 per cent APR, for up to £10,000, repayable over five years, with an optional four-month loan repayment holiday.
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Notes to Editors:
Graduate and student case studies are available from Lloyds TSB
The Graduate Accountmain features:
- Reducing interest-free overdraft - £2,000 in first year after graduation, £1,500 in year two and £1,000 in year three. Overdrafts can be agreed above these levels, with interest only charged on amounts borrowed above the overdraft limit applicable for that year. (e.g. a second year graduate who went overdrawn by £2300 (within an agreed facility) will only pay interest on £800 not the whole £2300.)1
- A low cost Graduate Loan (6.9 per cent – 11.9 per cent APR) of up to £10,000, repayable over five years. Optional four-month repayment holiday available.
- Telephone access to a dedicated graduate banking team to help graduates manage their finances and get relevant information. The graduate banking team can be contacted between 9am and 7pm, Monday to Friday, 9am to 1pm on Saturdays.
- Free Internet banking available 24 hours a day. A demonstration can be viewed at .
- Free phone banking (calls charged at local rates) available 24 hours a day, 365 days a year.
- Commission-free foreign currency and travellers cheques.
- Lloyds TSB credit card with a limit of up to £1,000 and no annual fee, available on request(subject to status).
- Lloyds TSB debit card provided with the account. Maximum daily cashpoint withdrawal of £200.
- Dedicated website available through lloydstsb.com.
Footnotes
- Agreed overdrafts above the interest-free level are charged at an EAR of 15.1 per cent.
- for a maximum trip of 31 days.
Graduate Gold main features:
- 2 per cent credit interest on cleared balances up to £2,000.
- £2,000 interest-free overdraft for all three years of the Graduate Gold account. Overdrafts can be agreed above these levels, with interest only charged on amounts borrowed above the £2,000 overdraft limit. (E.g. a graduate who went overdrawn by £2300 (within an agreed facility) will only pay interest on £300 not the whole £2300.)1
- A low cost Graduate Loan (7.8 per cent APR) of up to £10,000 repayable over five years. Optional four-month repayment holiday available.
Associated Gold Saver account available with following rates:
AmountAnnual
InvestedAERGrossNet
£100,000+3.904.153.32
£50,000+3.804.053.24
£25,000+3.653.903.12
£10,000+3.403.652.92
£2,500+3.153.402.72
£250+ #2.903.152.52
# For amounts below the minimum opening balance, other than a balance of less than £1, the interest paid will be 0.10% p.a. AER/Gross and 0.08% p.a. Net.
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- Free for new to bank graduate customers for one year. For existing customers - £5 per month until August 2005*, £10 per month thereafter. For existing Graduate Account customers £5 for the first 6 months.
- Telephone access to a dedicated graduate banking team to help graduates manage their finances and get relevant information. The graduate banking team can be contacted between 9am and 7pm, Monday to Friday, 9am to 1pm on Saturdays.
- Free Internet banking available 24 hours a day. A demonstration can be viewed at (applicants can request an application form online).
- Free phone banking (calls charged at local rates) available 24 hours a day, 365 days a year.
- Commission-free foreign currency and travellers cheques.
- Lloyds TSB Gold credit card with a limit of up to £1,000 and no annual fee, available on request (subject to status).
- Lloyds TSB Gold debit card provided with the account. Maximum daily cashpoint withdrawal of £200.
- Annual Travel Insurance (worldwide cover for two people; maximum trip 31 days).
- Sentinel card protection cover.
- 120 days purchase protection against loss or damage.
- Up to 40 per cent off high street prices on electrical items.
- Dedicated website available through lloydstsb.com.
For more information:
Jo Ganly/Catherine Battershill
Lloyds TSB Press Office