Fixed Rate Deposit Lloyds TSB by liaoqinmei

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									Fixed Rate Deposit
Description
A Fixed Rate Deposit is a deposit product that provides you          Maturity Date is the date upon which we have agreed
with a pre-agreed fixed interest rate (“Fixed Rate”) relating         we will pay the Coupon and repay the Deposit Amount
to a pre-agreed amount (“Deposit Amount”) for a specified             to you.
term (‘Interest Period’).
                                                                     Start Date is the date we receive clear funds from you.
The Interest Period will commence on the Start Date and               If you hold your bank account with us we will debit
will terminate on the Maturity Date.                                  your account with the Deposit Amount on the Start
The Coupon that will apply is expressed as an annual                  Date so you must ensure that you have sufficient
                                                                      funds available on your account. If you hold your
interest rate. At the end of the Interest Period, your interest
                                                                      account with another bank you must ensure that you
entitlement will be calculated by reference to the applicable
                                                                      provide them with instructions to transfer the funds to
Day Basis, the Deposit Amount and the interest rate. The
                                                                      us in order that they are received by us on the Start
payment is made in arrears at the end of the Interest
Period.                                                               Date.

                                                                     Business Day is a day (excluding Saturday and
                                                                      Sunday) on which the banks in London are open for
Benefits
                                                                      business.
    You will receive a fixed interest rate. Hence, whilst the
                                                                     Day Basis is either Actual Days / 365 or Actual Days /
     agreement is in place, any decrease in LIBOR below
                                                                      360, dependent upon the currency.
     the Fixed Rate will not impact you.

    The Fixed Rate, Interest Period and Maturity Date can
     be adjusted to suit your requirements, but once agreed       Terms and conditions
     can not be altered.
                                                                     A Fixed Rate Deposit is available in all major
                                                                      currencies. Other currencies may be available on
                                                                      request.
Risks
                                                                     Minimum Deposit Amount: usually £50,000 or
    Whilst the Fixed Rate Deposit is in place you will not
                                                                      equivalent, but other amounts are available on
     benefit from any increase in LIBOR.
                                                                      request.
    You can not cancel a Fixed Rate Deposit without our
                                                                     Duration: Overnight or any agreed period.
     agreement. The circumstances in which we may
     agree to cancel the agreement remain at our absolute            The acceptance of a Fixed Term Deposit may be
     discretion. If we do agree to cancel the agreement               subject to the completion of appropriate
     prior to the Maturity Date, depending on market                  documentation.
     conditions, you may incur a significant loss to your
                                                                      The trade parameters will be provided at the time of
     Deposit Amount.
                                                                      dealing. Lloyds TSB Representative will provide a firm
                                                                      price on a taped line. Your verbal acceptance of that
Definitions                                                           price will constitute the binding agreement. A
                                                                      confirmation will then be sent to you, providing you
    Fixed Rate is the annual rate of interest which we               with a written record of the economic details of the
     agree with you at the time of dealing and confirmed to           agreement, including the Maturity Date, Deposit
     you in writing.                                                  Amount, Day Basis convention and the Fixed Rate you
    LIBOR means the London Interbank Offered Rate.                   have transacted with us. No further statements of
                                                                      account will be provided.




                                    Prepared for Fixed Rate Deposit Account Clients
Fixed Rate Deposit
Terms and conditions continued                                                                         Compensation Arrangements
     You should be aware that you are solely responsible                                                    We are covered by the Financial Services
      for ensuring that payment is made to the relevant                                                       Compensation Scheme (FSCS). The FSCS can pay
      revenue authorities for any tax liability due in respect                                                compensation to depositors if a bank is unable to meet
      of a Fixed Rate Deposit. We may be required to                                                          its financial obligations. In respect of deposits, an
      report from time to time to HM Revenue and Customs                                                      eligible depositor is entitled to claim up to £85,000.
      details of any amount we pay to you, and/or withhold                                                    For joint accounts each account holder is treated as
      tax from any amount we pay to you. We reserve the                                                       having a claim in respect of their share. Hence, for a
      right to do so without any further notice to you.                                                       joint account held by two eligible depositors, the
                                                                                                              maximum amount that could be claimed would be
     You can not cancel a Fixed Rate Deposit without our
                                                                                                              £85,000 each (ie. a total of £170,000). The £85,000
      agreement. You should also be aware that an
                                                                                                              limit relates to the combined amount in all the eligible
      administration fee of £250 and Break Costs may apply
                                                                                                              depositor’s accounts with the bank, including their
      to early termination. Dependent upon market
                                                                                                              share of any joint account, and not to each separate
      conditions Break Costs can be substantial.
                                                                                                              account.
     Factors affecting the calculation of Break Costs
                                                                                                             For further information about the scheme (including
      include:
                                                                                                              the amounts covered and eligibility to claim) please
            time left until the Maturity Date                                                                refer to your Lloyds TSB Representative or to the
                                                                                                              FSCS website www.FSCS.org.uk or call 0800 678
            the movement of interest rates since the Start
                                                                                                              1100.
             Date

            the amount affected by the termination.

        You should contact your Lloyds TSB
        Representative if you require further information
        about how these costs are precisely calculated. If
        you are considering terminating a Fixed Rate
        Deposit you should contact us to discuss the
        impact of Break Costs.




This document has been prepared by Lloyds TSB Bank plc (“LTSB”) for information purposes only. This document describes the product and summarises the risks and benefits
associated with entering into a transaction of this nature. Whilst LTSB has exercised reasonable care in preparing this document and any views or information expressed or
presented are based on sources it believes to be accurate and reliable, no representation or warranty, express or implied, is made as to the accuracy, reliability or completeness of
the information contained herein.
The terms and conditions as described in this document, including pricing are indicative only and subject to change without notice. Prices are only agreed when you enter into the
transaction with us. If you receive information from us which is inconsistent with other information which you have received from us, you should refer this to your LTSB Sales
representative for clarification.
LTSB acts solely in a principal capacity. Not all products are suitable for all requirements and you should be aware that any transaction which you enter into with us is on the basis
that you are able to make your own independent decision as to the suitability of a product or transaction. Your decision will be based on your own knowledge and experience and
any professional advice which you may have sought in relation to the financial, legal, regulatory, tax or accounting aspects of the proposed transaction.
Fluctuations in rates of exchange and rates of interest may have an adverse effect on the value, price or income of a product or investment. You should be aware that substantial
break costs could be incurred by you if the transaction is terminated before its scheduled maturity.


Lloyds TSB Corporate Markets is a trading name of LTSB. LTSB’s registered office is at 25 Gresham Street, London EC2V 7HN and it is registered in England and Wales under no.
2065. LTSB is authorised and regulated by the Financial Services Authority. (11/07)

								
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