At a glance
Save up to £15,240 (less any amount invested in a stocks & shares ISA) tax-free, paying in as often as you like, with our Cash ISA Saver account. You can open your account with just £1, and if you need your money quickly, you can get instant access with no withdrawal fee.
You have a 14 days cancellation period during which you can cancel the account. If you cancel during this period you will still be able to subscribe to another cash ISA in the same tax year. See the Important Information section for full details.
|£1 to £39,999||0.75
These interest rates are correct as at 12/05/2015.
Accounts opened will receive the rates above for 12 months. These rates include a fixed introductory bonus of 0.30% on balances £40,000+ (0.25% for balances of £1 - £39,999) from the date of account opening.
|Balance||Interest Paid Annually|
|AER/Tax - free%||Gross/Tax - free%|
|Account name||Cash ISA Saver|
|Interest rates (AERs)||Variable interest including a 12 month fixed bonus. Interest is paid yearly.
Cash ISA Saver interest rates.
|Tax status||Interest will be tax free.
The favourable tax treatment for ISAs depends on your individual circumstances and may change.
|Conditions for bonus payments||Not applicable|
|Withdrawal arrangements||Get instant access with no loss of interest. Once you’ve paid in your full year’s ISA allowance you can’t replace any money you’ve withdrawn in the same tax year. There is no charge for withdrawals.|
|Access to your account||Online, by phone or in branch.|
If you want to transfer an existing ISA to us, you need to use our online ISA transfer form.
Once we receive your completed form, we’ll ask your current provider to transfer the money to us. If your ISA is ready to move to us, we’ll pay interest at your new rate from the day we receive your completed transfer application. If there is a notice period or a restriction on your old ISA that means it can’t be transferred straight away, we’ll pay interest from the day we receive the money from your old provider.
Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions) 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 general conditions, the additional conditions apply.
The Cash ISA Saver account has a variable interest rate, and is a restricted savings account, as you can only pay in the yearly ISA allowance set by HM Treasury. Lloyds Bank plc has been approved as an ISA manager by HMRC.
1.1 To open a Cash ISA Saver, you must be at least 16 years old and either (a) resident in the United Kingdom for tax purposes or (b) a Crown employee serving overseas, or married to, or in a civil partnership with, such a person. You must inform us if these conditions no longer apply to you.
1.2 The Cash ISA Saver must be in your sole name and all funds deposited in it must belong to you.
1.3 You must not pay into more than one cash ISA in any one tax year, unless you have opened a separate cash ISA to pay in an additional ISA entitlement resulting from the death, on or after 3 December 2014, of a spouse or civil partner (we refer to this as an ‘additional ISA entitlement’ in these conditions).
1.4 HMRC ISA Regulations mean that if you do not make a deposit into your Cash ISA Saver in any tax year (other than the year of application) you will need to complete a new application form if you want to make deposits in a later year.
2. OPENING AND RUNNING YOUR CASH ISA SAVER
2.1 Your Cash ISA Saver will start from the date of your first deposit which must be at least £1 and be accompanied by a valid application form. Applications cannot be backdated.
2.2 The administration of your Cash ISA Saver will be carried out by Lloyds Bank plc. Queries about your Cash ISA Saver can be made at any branch or through Telephone Banking if you are registered.
3. DEPOSITS AND WITHDRAWALS
3.1 You can pay all or part of your yearly ISA allowance into your Cash ISA Saver at any time. You can do this by:
(a) transfer from a cash or stocks and shares ISA account with us or another ISA manager which you have subscribed to in the same tax year or in previous tax years (in which case you must complete an ISA transfer form as part of your application); or
(b) paying money into your Cash ISA Saver at any branch, or by transferring money from another account.
3.2 You can also pay some or all of an additional ISA entitlement into your Cash ISA Saver at any branch, or by contacting us to transfer money from another account. These payments do not count as part of your annual ISA allowance. You must pay in any additional ISA entitlement within the time-limits set out in the ISA Regulations. We will tell you about these time-limits when you apply for your account and each time you make an additional ISA entitlement payment.
3.3 If you ask to transfer your existing cash ISA to us we will contact your existing ISA provider within 5 days and the process should not take more than 15 working days to complete.
3.4 If you ask to transfer your existing stocks and shares ISA to us, the process should not take more than 30 days to complete.
3.5 Before you decide to transfer your ISA to us, please check the charges your existing ISA provider might apply. For example, if you have a fixed term cash ISA there may be a charge if you want to move your money out before the account matures. If you have a stocks and shares ISA, your provider may impose exit charges or other costs. In addition, the investments you currently have will have to be sold and it is possible that you could lose out if there is a rise in the market while your transfer is processed.
3.6 If you make regular monthly payments to your Cash ISA Saver, they must be from a bank or building society account of which you are a named account holder (“your nominated account”) and either:
(a) made by standing order if your nominated account is an account you hold with us; or
(b) made by direct debit if your nominated account is held by another bank or building society.
3.7 The maximum amount you can pay into an ISA in any tax year is set by HM Treasury. To find out the latest allowance contact us or HMRC.
3.8 You can make a payment or withdrawal from your Cash ISA Saver at any time. If you request payment by cheque, the standard fee for cheques will apply. After making a payment or withdrawal you will not be able to pay more money into your Cash ISA Saver, if it means you pay in more than the yearly ISA allowance set by HM Treasury.
3.9 You can ask to transfer the whole of your Cash ISA Saver during a tax year in which you make payments into it, or the whole or part of your Cash ISA Saver deposits (and interest) from a previous tax year or years, to a cash ISA or a stocks and shares ISA with another ISA provider. You must complete a transfer application with your new provider who will send the transfer application to us. Within 5 working days of receiving the transfer application from your new provider, we will send your money and information to your new provider. It should take no more than 15 working days to transfer a cash ISA and no more than 30 days to transfer a stocks and shares ISA.
4.1 When you have less than £1 in your Cash ISA Saver, we will not pay interest on the amount in your account. Interest will start to be paid again (on the whole balance) if the balance is restored above that limit.
4.2 The interest rate is variable. You can find out the current interest rates for our Cash ISA Saver at any of our branches, by telephoning us on the Interest Rates Helpline on 0845 300 0032, or by visiting our website at www.lloydsbank.com/isa.
4.3 We will pay interest once a year on 31st March or the next working day. As long as you and your Cash ISA Saver continue to qualify, interest will be paid tax-free.
4.4 Interest can be added to your account or you can ask us to pay it into a different account held with either us or another bank or building society. If you arrange for your interest to be paid into a different account any further interest you earn on these interest payments will be subject to tax, unless the other account is also tax-free.
5. CHANGES TO THE ISA REGULATIONS
5.1 Any changes made by HM Treasury to ISA Regulations that affect these conditions will apply as soon as they come into force.
5.2 Favourable tax treatment for ISAs may not be maintained (the Government is responsible for decisions about tax treatment).
6. OTHER TERMS
6.1 We are required to provide details of all ISA holders to HMRC. If you are or become non-resident in the UK, HMRC may be required to share this information with tax authorities in your country of residence.
6.2 We will send you a statement each year showing transactions up to and including 5th April.
6.3 We will send you a duplicate statement on request. There will be a reasonable charge for this which you will be notified of at the time of your request. This may be deducted from your Cash ISA Saver, even if it causes the funds in your Cash ISA Saver to fall below the minimum balance. Please see conditions 4.1 (Interest) and 7.2 (Closure of the account) for details of how this could affect your Cash ISA Saver.
6.4 We may delegate any of our functions or responsibilities to a third party. If we do so, we will first satisfy ourselves that the third party is competent to carry out those functions and responsibilities.
7. CLOSING YOUR CASH ISA SAVER
7.1 You can close your Cash ISA Saver at any time and any interest earned will be tax-free. If you have made a deposit into your Cash ISA Saver in the same tax year as you close it, you cannot open a new cash ISA for the same tax year with us or any other provider , unless that cash ISA is opened solely to pay in an additional cash ISA entitlement. You will be able to open a stocks and shares ISA providing you are 18 or over and you do not save more than your annual ISA allowance.
7.2 We may close your Cash ISA Saver if the balance falls below £1 but we will normally give you 30 days' notice before doing so.
7.3 If your Cash ISA Saver stops qualifying as an ISA we will close it and notify you. We will deduct income tax at the appropriate rate on the interest earned on your deposit so far, including any interest you have already been paid. The tax will be deducted from your Cash ISA Saver before the balance is paid to you.
7.4 Your Cash ISA Saver will cease to qualify as an ISA and the interest will become subject to the deduction of income tax in the following circumstances:
(a) if the terms of the declaration on the application form are or become untrue;
(b) if you transfer any of your rights as an account holder or use your Cash ISA Saver as security for a financial liability;
(c) from the date of your death; or
(d) if HMRC instructs us accordingly.
7.5 If you die, your Cash ISA Saver balance will normally be paid to your estate. When we receive notice of your death we will close your Cash ISA Saver and pay any interest earned up to the date of death tax free. We will transfer the balance to a new account on which interest will be earned at the Easy Saver interest rates. Your spouse or civil partner will be entitled to an additional ISA entitlement equal to the balance of your cash ISA on death (including any interest accrued at the date of your death). They will not be eligible for this additional entitlement if you are separated at the time of your death.
7.6 We will notify you if, by reason of any failure to satisfy the provisions of HMRC ISA Regulations, your Cash ISA Saver becomes or will become subject to the deduction of tax.
If you apply for a Cash ISA Saver you will be able to change your mind and cancel your account at any time before the end of the 14-day period starting on the day your Cash ISA Saver is opened or the day you receive your ISA Welcome Pack, whichever is later. If you cancel your Cash ISA Saver you are free to subscribe to another ISA in the same tax year. If you decide to cancel we will repay you any money you have paid together with any interest due on it, or help you to switch the balance to another account. To cancel this agreement you should tell us by writing to us at Lloyds Bank plc, BX1 1LT. There are no charges for cancelling your Cash ISA Saver agreement, and you do not have to give any advance notice.
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 is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).
Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).
Interest will only be paid gross on tax-free accounts or if you are registered with us as unlikely to pay tax on your savings income. You will need to register each account you hold separately which you can do by visiting your nearest branch or by ringing us on 0845 3000 000 or 01733 347007.
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
You can apply for a Cash ISA Saver if you are:
The ISA allowance for the 2015/2016 tax year is £15,240.
For answers to common queries please use our help centre.
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. Lloyds Bank plc is a member of the Financial Services Compensation Scheme and the Financial Ombudsman Service. 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.