Lloyds, Halifax and Bank of Scotland issue new overdraft rules with interest rate hike | Personal Finance | Finance
The Lloyds Banking Group, which runs Lloyds Bank, Halifax and the Bank of Scotland, is massively increasing interest rates charged on overdrafts.
The punishing increases come just as millions of people have been driven into debt making them more likely to push their bank account into the red.
The Lloyds’ group current interest charge is usually an already punishing 39.9 percent but some customers, like Club Lloyds account holders, pay 27.5 percent.
However, a new regime means some customers…
