New agricultural enhanced interest deposits suited to short term savings for tenant farmers

A new enhanced interest rate deposit facility now available from Lloyds TSB Agriculture is designed specifically for tenant farmers able to put aside their single farm payment for rent due on ’Lady Day’.

With limited availability up to 31st December, and with a maturity date set at 23rd March 2012, the Lady Day deposit is one of a number of fixed term deposit facilities exclusively for Lloyds TSB’s agricultural customers with interest rates significantly above current commercial rates.

"The Lady Day deposit has a minimum investment level of £10,000 and an interest rate of up to 1.5%, whilst other new facilities with extended terms have rates up to 1.75%," confirms Alick Jones, Agriculture Policy Director with Lloyds TSB Agriculture. "There is no access at all prior to maturity, however, so farmers would need to consider their cash requirements very carefully for the intervening period."