Local Authority interest rates
For all deposit accounts below, there is a minimum opening balance of £10,000 and a maximum balance of £5,000,000 and interest rates apply to deposits in sterling only.
For deposits over £5,000,000, alternative terms or for more information on interest rates in other major currencies, please call us on 0345 305 5555. We are available 8am to 5pm Monday to Friday.
All interest rates quoted below are for Local Authorities only. Other exclusions may apply, please contact your Relationship Team or call 0345 305 5555 should you have any queries.
|
Deposit Accounts |
Term |
AER/GROSS* p.a Interest Rate |
Interest Payment |
|---|---|---|---|
Deposit Accounts32 Day Notice Call Account** |
TermNo set term 32 days’ notice required to make withdrawals or close the account |
AER/GROSS* p.a Interest Rate0.05% (Bank of England Bank Rate (BoE) 0.10% (variable) minus 0.05% (fixed)) |
Interest PaymentCalculated and paid daily |
Deposit Accounts95 Day Notice Call Account** |
TermNo set term 95 days’ notice required to make withdrawals or close the account |
AER/GROSS* p.a Interest Rate0.10% (Bank of England Bank Rate (BoE) 0.10% (variable)) |
Interest PaymentCalculated and paid daily |
Deposit Accounts175 Day Notice Call Account** |
TermNo set term 175 days’ notice required to make withdrawals or close the account |
AER/GROSS* p.a Interest Rate0.11% (Bank of England Bank Rate (BoE) 0.10% (variable) plus 0.01% (fixed)) |
Interest PaymentCalculated and paid daily |
Deposit AccountsCall Account |
TermNo set term |
AER/GROSS* p.a Interest RateBank of England Bank Rate (BoE) 0.10% (variable) minus 0.09% (fixed) |
Interest PaymentCalculated and paid daily |
Deposit AccountsMonthly Bonus Account |
TermNo set term |
AER/GROSS* p.a Interest RateBank of England Rate (BoE) |
Interest PaymentCalculated and paid daily |
Deposit Accounts3 Month Fixed Term Deposit (FTD) |
Term3 months |
AER/GROSS* p.a Interest Rate0.01% (fixed) |
Interest PaymentAt maturity |
Deposit Accounts6 Month Fixed Term Deposit (FTD) |
Term6 months |
AER/GROSS* p.a Interest Rate0.03% (fixed) |
Interest PaymentAt maturity |
Deposit Accounts9 Month Fixed Term Deposit (FTD) |
Term9 months |
AER/GROSS* p.a Interest Rate0.06% (fixed) |
Interest PaymentAt maturity |
Deposit Accounts12 Month Fixed Term Deposit (FTD) |
Term12 months |
AER/GROSS* p.a Interest Rate0.10% (fixed) |
Interest PaymentAt maturity |
Deposit AccountsTerm Deposit with fixed maturity date |
TermMaturity date 18/06/2021 |
AER/GROSS* p.a Interest Rate0.03% (fixed) |
Interest PaymentAt maturity |
Deposit AccountsTerm Deposit with fixed maturity date |
TermMaturity date 17/12/2021 |
AER/GROSS* p.a Interest Rate0.10% (fixed) |
Interest PaymentAt maturity |
*AER - The AER stands for Annual Equivalent Rate and is the notional rate which illustrates the gross rate as if paid and compounded on an annual basis. As every advert for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
*Gross Rate - Gross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HM Revenue and Customs.
**Product is linked to the current Bank of England Bank Rate. If you make a Withdrawal from your Notice Account,the Interest Rate applied to the funds to be withdrawn will be the Reversion Rate. The Reversion Rate will apply forthe duration of the notice period, from the date we receive your Withdrawal Instruction. Interest on the funds tobe withdrawn will be paid at the end of the notice period.
*** Rates stated are available as at 18/12/2020 and expire on 04/02/2021. Lloyds Banking Group maintains the right to withdraw rates at our discretion during the offer period.
Interest accrued on our Term Deposits are paid on maturity, unless the Term Deposit has a term of more than oneyear, in which case, accrued interest is paid annually and any remaining interest is paid at maturity.
Terms and conditions apply; please contact us for further information.