Lloyds TSB has launched a new type of savings account for its customers.
Consumers of the new Save the Change option using the bank's debit cards will find that the purchase is rounded up to the nearest pound, with the change moved into a savings account automatically.
An example of this provided is buying an £11.70 train ticket, which would see 30p deposited into a savings account for the consumer.
Lloyds TSB claims that the new option will help to encourage a "savings habit" among its users.
"It won't even feel like saving but, at the end of the year, customers will have a nice nest egg to build on for the future," remarked Terri Dial, group executive director of UK retail banking at Lloyds TSB.
"Save the Change can help everyone get onto the first rung of the savings ladder, turning everyday debit card purchases from groceries, petrol or even a pint of milk, into savings."
Lloyds TSB currently offers a number of savings accounts, including online options and child trust funds.
Lloyds launched new savings option
Lloyds launched new savings option
Wed, 06 Dec 2006
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