Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
Having looked at the savings habits of the nation the Halifax can now highlight which parts of the country save the most, and the least.
Top of the Halifax savings league is London, with an average savings balance of over GBP14,200. In second place was South Buckinghamshire, followed by Shrewsbury to make up the top 3 saving locations. The top performing savers outside the south of England can be found in Derbyshire, having an average savings pot of just over GBP11,600.
A spokesman from the Halifax was pleased to see how good the average figures were but did hope that those without such levels of savings would aim to increase the amount they save.
The Alliance and Leicester has just announced a new savings account that pays interest at 9 percent gross per annum. It is a one year fixed rate account open to customers who invest in their Balanced Savings and Investment Plan.
The Balanced Savings and Investment Plan is made up of a portfolio bond and a savings account. The minimum deposit for the bond is GBP5,000 and at least GBP1,000 for the savings account. Before leaping in investors are advised by the Alliance and Leicester that the recommended term for the bond should be at least 5 years, meaning any money placed here should be left alone for a period of time.
An Alliance and Leicester spokesman said the offer combined a mix of short and medium term savings with the potential for excellent returns, much better than a regular savings account.
