LLOYDS BANK SAVINGS ACCOUNTSMonthly Saver

Watch your savings grow and earn fixed interest for one year, with instant access to your money

Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

2.00% gross/AER fixed for 12 months from account opening

  • You can save from £25 to £250 a month by standing order (this must reach your account by the 25th of the month)
  • Fixed interest rate gives peace of mind
  • Your interest is paid annually on the anniversary of the account opening
  • You can only have one Monthly Saver in your sole name or held jointly
  • You must have a Lloyds Bank current account
  • After 12 months the account will automatically change to an Easy Saver, which currently has an interest rate of 0.10%
  • Unlimited. You can’t, however, replace any money you withdraw.
  • Online
  • Branch
  • Phone

2.00% gross/AER fixed for 12 months from account opening

Features and benefits

  • You can save from £25 to £250 a month by standing order (this must reach your account by the 25th of the month)
  • Fixed interest rate gives peace of mind
  • Your interest is paid annually on the anniversary of the account opening

Keep in mind

  • You can only have one Monthly Saver in your sole name or held jointly
  • You must have a Lloyds Bank current account
  • After 12 months the account will automatically change to an Easy Saver, which currently has an interest rate of 0.10%

Withdrawals

  • Unlimited. You can’t, however, replace any money you withdraw.

Access

  • Online
  • Branch
  • Phone

Summary box for Monthly Saver

1. What is the interest rate?

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

Your balanceAnnual interest
GrossAER
£1+
2.00%
2.00%

  • Your interest is paid 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:

Regular depositGross rateBalance at 12 months
£100
2.00%
£1,212.00

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • You make regular monthly deposits in the middle of the month

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
  • You can open this account in your sole name or make it a joint account once opened
  • You must have a Lloyds Bank current account

Managing this account

  • You can save from £25 to £250 a month by standing order (this must reach your account by the 25th of the month).
  • You can only have one Monthly Saver in your sole name or held jointly
  • If you close the account early, you won’t be able to open another one before the first anniversary of opening the first account.

5. Can I withdraw money?

Yes.
You can make withdrawals from this account and there are no charges for doing so. You can’t, however, replace any money you withdraw. 

If making an online transfer, it can only be made to an existing Lloyds Bank account.

After 12 months the account will automatically change to an Easy Saver, which currently has an interest rate of 0.10%


6. Additional information

Gross rate means we won’t deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).

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 Monthly Saver

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

Apply to open a Monthly Saver online in about five minutesApply now

Other ways to apply

By phone:

Whether you’re a new or existing customer, call us on

0345 730 1400

Lines are open 7am–10pm Mon–Fri, 8am–6pm Sat–Sun

In branch:

Open an account with as little as £1 at your local branch

Find your nearest branch

Not the right savings account for you?

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

See all savings accounts

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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.