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Credit Cards & Loans

Product launches of the week

Lucinda Beeman
Written By:
Lucinda Beeman

Shawbrook launches two fixed rate bonds; TSB and Santander unveil new credit cards; TD Direct introduces new ‘Fund Selector’ tool.

Credit Cards

TSB has extended the balance transfer offer on its Platinum credit card from 24 to 48 months. With a balance transfer fee of 3 per cent, customers will pay no interest on new purchases for three months.

Santander has added 18 months interest free on purchases to its Santander 123 credit card and cut the APR to 16.5 per cent from 22.8 per cent. The annual fee is waived for the first year for new cardholders who also have a Santander 123 current account.


Shawbrook Bank has launched two new fixed rate bonds this week.

Its new 2 year fixed rate bond offers savers 2.10 per cent AER. Savers who are permanently resident in the UK can invest any amount from £5,000 up to £2 million with interest paid either gross or net according to tax status and maturity. The new 18 month fixed rate bond offers an AER of 1.85 per cent.

Lloyds Bank introduced a new current account this week, which gives customers access to two new savings accounts. The Club Lloyds Monthly Saver account offers an interest rate of 4 per cent on monthly deposits between £25 and £400. The Club Lloyds Saver account offers an interest rate of 0.75 per cent.


TD Direct Investing has unveiled a new ‘Fund Selector’ tool and reduced its platform charges. The selector simplifies the fund selection process by sorting over 1,600 funds into segments and sectors together with ratings provided by Morningstar. TD Direct Investing has also reduced its platform fee to 0.30 per cent for clients who hold funds up to £250,000 to a maximum charge of £1,500.


In response to the pension shake-up announced in the Budget, LV= has launched a one year fixed term annuity. Targeted at clients who want to take advantage of the increased flexibility but need an income between now and April 2015, the product will initially be available for a term of six weeks.

The Forces Help to Buy Scheme, which offers regular service personnel loans of up to 50 per cent of salary towards the purchase of a new home, launched on 1 April.


The RAC has launched a ‘comprehensive’ European Breakdown Cover product covering vehicles of any age as well as drivers towing caravans or trailers for either a single trip or on an annual basis.

The cover includes garage labour costs up to £150, protection for emergency repairs following a vehicle break-in and up to £1,500 for journey continuation. There are also a 24/7 English-speaking case handlers to manage repairs or alternative arrangements if you struggle to communicate in French, Spanish or German.