Lloyds 1-year Term Deposit @ 1.50% ? !

Shagg

My wife and my mother have had several Lloyds 1-year Term Deposit bonds recently:

Starting
08/10/09 @ 3.00%
04/06/10 @ 2.40%
08/10/10 @ 1.50%
04/06/11 @ 2.90%

As these rates were notified as renewal offers in the maturity letters of the prior term deposit bonds, I have not seen them formally published by Lloyds. I have been unable to find anything in the interest rate history on the Lloyds website prior to the now-replaced 2.90% rate.

The one at 1.50% was notified in a letter that was different in character to the other renewal offers. I am wondering whether my mother was sold a pup with that 1.50% rate. Was this genuinely the rate for a 1-year Term Deposit bond at that time or has my mother, a life-long Lloyds customer, been given 'special treatment'?

opinions4u

One year term deposit rates were well below 2% with many banks and building societies at that time, with the stronger rates in the longer terms (as providers were seeking to replace wholesale funding).

Perhaps the Tracker Bond would be worth investigating?

http://193.34.230.173/savings/tracker_bond.asp