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LLOYDS BANK ISA ACCOUNTSFixed Rate Cash ISA - 2 years

A cash Individual Savings Account (ISA) that pays you tax free interest at a fixed rate if you put away your money for the two year term


Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

0.55% tax free/AER fixed for 24 months from account opening

  • Fixed interest rate gives peace of mind
  • Your interest is paid tax free
  • ISAs have an annual limit this tax year of £15240 for new contributions and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year
  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening
  • You can, but it’s important to note that if you close your account, withdraw money or transfer money to another ISA you’ll lose 180 days’ tax-free interest, so you might get back less than you originally deposited.

 

  • Online
  • Branch
  • Phone

0.55% tax free/AER fixed for 24 months from account opening

Features and benefits

  • Fixed interest rate gives peace of mind
  • Your interest is paid tax free
  • ISAs have an annual limit this tax year of £15240 for new contributions and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year
  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening

Keep in mind

Withdrawals

  • You can, but it’s important to note that if you close your account, withdraw money or transfer money to another ISA you’ll lose 180 days’ tax-free interest, so you might get back less than you originally deposited.

 

Access

  • Online
  • Branch
  • Phone

Summary box for 2 year Fixed Rate Cash ISA

1. What is the interest rate?

It’s a fixed rate as shown in the table below

Your balanceAnnual interest
Tax free AER
£1+
0.55%
0.55%

  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening.

2. Can Lloyds Bank change the interest rate?

No.
This account has a fixed rate of interest so the rate won’t change during the term.


3. What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid:

Initial depositTax free rate Balance at 24 months
£3,000
0.55%
£3,033.09

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • You make your initial deposit payment on the day you open the account
  • You don’t make any further deposits
  • Interest is paid annually

4. How do I open and manage my account?

This account can be opened and managed in branch, by phone or online.

Opening this account

  • You must be 16 or over and resident in the UK for tax purposes
  • You can only open this account in your sole name
  • The minimum opening deposit is £3,000. You can also transfer an existing ISA to us.
  • The term starts on the day you open the account

Managing the account

  • ISAs have an annual limit this tax year of £15240 for new contributions and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.
  • You can only add new contributions into one cash ISA in a tax year.

5. Can I withdraw money?

You can, but it’s important to note that if you close your account, withdraw money or transfer money to another ISA you’ll lose 180 days tax-free interest, so you might get back less than you originally deposited.

Any money moved out of your ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in future.

After the two year terms ends the account will automatically change to an Instant Cash ISA (PDF). 

Before this happens, we'll contact you to explain your options and next steps.


6. Additional information

Tax free is the rate of interest payable to you where your interest is exempt from income tax.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.


Apply for a Two Year Fixed Rate Cash ISA

To set up an account online, you'll need to be 16 or over and resident in the UK.

Apply to open a Two Year Fixed Rate Cash ISA online in about 5 minutesApply now

Not the right ISA for you?

With so much choice, take a look at our range of other ISAs to see which might suit you best.

See all ISAs

Important legal information

Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Authorisation can be checked on the Financial Services Register at www.fca.org.uk. Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065.