Easy Saver


At a glance

  • Earn a variable rate of interest of 0.50% gross/AER variable. This rate includes a fixed introductory bonus of 0.30% for the first 12 months.
  • After 12 months the variable interest rate without bonus will apply, currently 0.20% gross/AER.
  • Instant access to your account online, by phone and in branch
  • Transfer your money instantly between your Easy Saver Account and Lloyds Bank current account
  • Joint Savings. Apply for a Joint Savings account online by logging into Internet Banking or whilst applying for an account.

About the Easy Saver

Open your Easy Saver online with just £1 and enjoy instant access through our ATM network with our optional Cashpoint® card, and you can set up standing order payments into your account to help your savings grow.

Interest on the Easy Saver is paid annually.

Easy Saver with bonus

Balance
Annual interest
AER/Gross %AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form. Net % Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places.
£1+ 0.50 0.40

These interest rates are correct as at 07/01/2014.

† The gross and net rates shown include a fixed introductory bonus of 0.30%, payable for 12 months from the date of account opening. At the end of the bonus period, rates without bonus will apply. Please see the without bonus table for current rates.


Easy Saver without bonus

Balance
Annual interest
AER/Gross variable % without bonus AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form. Net % without bonus Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places.
£1+ 0.20 0.16

These interest rates are correct as at 04/05/2013.

  • Register to receive gross interest. You can have your interest paid gross if you are a non-tax payer and have completed an HM Revenue & Customs R85 form. Download the R85 from HM Revenue & Customs.
  • Save the Change® - Register for Save the Change® and every time you make a purchase with your Lloyds Bank Visa debit card, the amount you spent will be rounded up to the nearest pound. We’ll then transfer the difference into your nominated Lloyds Bank savings account the next working day.
  • Set up a standing order – saving regularly from your current account is the easy way to grow your savings.
  • Rename your account to suit you, such as holiday, rainy day or simply savings. All you need to do is click on your Easy Saver account in Internet Banking, then change nickname. The name you choose will only appear in Internet Banking and not on your statements.
  • Transfer money from a non Lloyds Bank account. Just complete our savings transfer form
  • You can take the form to our nearest branch. Find a branch near you.
  • Search your statements instantly and cut down on paperwork when you turn off paper statements.
  • Add a second party to your savings account. It’s a convenient way to budget for holidays and special purchases together. Find out more about Joint savings accounts.
Account name Easy Saver
Interest rates (AERs) Variable interest paid annually.

Easy Saver interest rates.
Tax status Interest is paid net of basic rate income tax.

If your non savings income is less than your personal allowance you may qualify for the 10% savings tax rate, we will still pay your interest net of tax (with income tax taken off - currently 20%). If you think that this may apply to you, you should complete HMRC form R40, available on HMRC website or your tax office.

If you are a non-tax payer and have completed an HMRC R85 form, you can receive your credit interest paid gross. You will need to complete this form for each account you hold. You can download the R85 form at HM Revenue & Customs.
Conditions for bonus payment Fixed bonus paid for first 12 months from date of account opening.
Withdrawal arrangements No notice period.
Instant access with no loss of interest.
Access For Lloyds Bank current account holders – web, phone, branch and optional Cashpoint® card.
For non-current account holders – phone and optional Cashpoint® card only.

If you have a Lloyds Bank current account and are registered for Internet Banking you can open an account online with as little as £1. If you don’t have a Lloyds Bank current account, you can still apply online by filling in the online form.

If you would like to open a new joint Easy Saver Account online, open an account in sole name and you can add someone to your account once your application is complete.

To set up an account online you'll need to be:

  • a UK resident
  • over 16 years of age

Add another person to your existing savings account(s)

Log into Internet Banking to apply for a joint savings account

Apply in your local branch

Open an account with as little as £1 deposit.

Apply by phone

Whether you’re a new or existing customer, call us on Monday- Friday 7am-10pm and 8am-6pm at weekends.

0845 730 1400

Easy Saver terms and conditions

Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions leaflet) and additional conditions. These include the conditions below and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking terms and conditions, the additional conditions apply.

The Easy Saver Account is an instant access savings account with a variable interest rate.

1     ELIGIBILITY
1.1  To have the Account you must be 16 or over.

2     DEPOSITS AND WITHDRAWALS
2.1  You can pay money into the Account in branch, or by transferring money from
another account with us or another bank.
2.2.  You can make withdrawals from this Account at any of our branches but you can only make payments from the Account to another Lloyds Bank current or savings account in your name (or in the case of a joint account, in any of your names). You cannot set up standing orders on the Account to make these payments.
2.3  You can ask us for a Cashpoint® card to make deposits to and withdrawals from the Account.

3     INTEREST
3.1  The Account interest rate is variable.
3.2  We will pay interest once a year on the anniversary of opening the Account.
3.3  You can ask us to pay interest into a different account with us.
3.4  You will find our current interest rates for the account in our UK branches, online at www.lloydsbank.com or by phoning us on 0845 300 0032.

4     COOLING OFF
4.1  If you are not happy with your choice of account or service, you can cancel it within 30 days of opening the account or taking the service. We will then help you to move to another account we offer or will return your money to you with any interest you have earned.

Important documents

You can download and read these important documents:

Personal banking terms and conditions leaflet

Banking Charges guide

Glossary

AER

AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts.

Net rate

Net rate is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).

Gross rate

Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).

Tax free rate

Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Apply online today

You can open an Easy Saver account online in less than 5 minutes and with as little as £1.

    Ask a question

    For answers to common queries please use our help centre.

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