eSavings


At a glance

  • 0.75% gross/AER variable on balances of £10,000+.
  • 0.55% gross/AER variable from £1 to £9,999.
  • Open in moments with just £1
  • Fixed 12 month introductory bonus
  • Interest is paid annually
  • Joint Savings. Apply for a Joint Savings account online by logging into Internet Banking or whilst applying for an account.

About the eSavings account

Earn a variable rate of 0.75% gross/AER variable on balances of £10,000 or more or 0.55% gross/AER variable from £1 to £9,999

Rates include a fixed introductory bonus of 0.55% on balances of £10,000 or more or 0.35% on balances of £1 to £9,999, payable for the first 12 months from the date you open your account. After 12 months the variable interest rate without bonus will apply, this is currently 0.20% gross/AER.

Enjoy instant access to your savings through Internet Banking

To apply for our eSavings account, you need to have a Lloyds Bank current account.

eSavings account with bonus

See the table below for the eSavings account interest rates with bonus:

Balance Annual interest
AER/Gross with 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 % with 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.
£10,000+ 0.75 0.60
£1+ 0.55 0.44

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

* The gross and net rates shown include a fixed introductory bonus of 0.55% Gross/AER on balances of £10,000 or more, or 0.35% Gross/AER on balances of £1 to £9,999, 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.

Interest rates are variable.

See previous rates.

eSavings account without bonus

The table below gives a summary of the eSavings account interest rates without bonus:

Balance Annual interest
Gross/AER 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.
£10,000+ 0.20 0.16
£1+ 0.20 0.16

These interest rates are correct as at 08/05/2013.

Interest rates are variable.

See previous rates.

Services with the eSavings account

  • Register to receive gross interest. You can have your interest paid gross if you’re a non-tax payer and have completed an HMRC R85 form. Download the R85 from HMRC
  • 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 eSavings 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 transfers 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

eSavings account summary box

The table below gives a summary of the eSavings account:

Interest rates (AERs) Variable interest with a 12 month fixed bonus.

Interest is paid annually.

eSavings Account 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 for first 12 months from date of account opening.
Withdrawal arrangements No notice period.
Instant access with no loss of interest.
Access Web only

Your new account is only a few clicks away.

If you would like to open a new joint eSavings 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
  • a Lloyds Bank current account customer
  • registered for Internet Banking

Apply for a eSavings account today

Add another person to your existing savings account(s)

Log into Internet Banking to apply for a joint savings account

Want to switch your current account to Lloyds Bank?

Our dedicated team will help take the stress out of switching.

eSavings account 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 eSavings Account is an internet based instant savings account with variable interest rates, available when you have a current account with us and are registered for Internet Banking. The Account must be opened online.

  1. Eligibility
    1.1 To have the Account you must be 16 or over, and have a current account with us.
    1.2 You can only open the Account through Internet Banking and you can only have one Account in either your sole name or held jointly.
    1.3 If you are no longer entitled to the Account we will make arrangements with you to close your Account and transfer your balance to another account in our savings range.
  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 only make payments from this account using Telephone Banking or Internet Banking and the payment must be to a Lloyds Bank current or savings account in your name (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.
  3. Interest
    3.1 The Account interest rates are variable and will vary depending on the amount in the Account.
    3.2  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.
    3.3 We will pay interest once a year on the anniversary of opening the Account.
    3.4 You can ask us to pay interest into a different account with us.
  4. Cancellation
    4.1 If you are not happy with your choice of account or service, you can cancel it within 14 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 eSavings account online in moments. You need to have a Lloyds Bank current account.

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