What is an instant access account?

An instant access account has no fixed term and you can access your money at any time plus there are no charges for doing so. Interest is calculated daily and paid monthly.

See our interest rates

Benefits

Earn Interest

You’ll earn interest on money in your account from the day you deposit it.

Start saving today

Set up an account right away in just a few simple steps.

£1 minimum deposit

Open your savings account with as little as a £1 deposit.

Is your business eligible?

To apply for an instant access account, you should:

  • Require the account for business use
  • Be a sole trader, partner or director
  • Be age 18 or over

How do I apply for a savings account?

  1. Log into Online for Business
  2. Select Savings from the navigation
  3. It should only take about 10 minutes

Apply for an instant access account

Apply for an instant access account

Apply for an instant access account

Make surplus cash work harder in an instant access account tailored to your needs

Log on and apply

Summary box

Instant access account

What is the interest rate?

It’s a variable rate, as shown in the table below.

Business instant access account

Interest paid monthly

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 (%)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.

Interest paid monthly

£10,000,000+

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.

1.92%

Gross (%)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.

1.90%

Interest paid monthly

£1,000,000+

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.

1.85%

Gross (%)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.

1.83%

Interest paid monthly

£250,000+

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.

1.31%

Gross (%)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.

1.30%

Interest paid monthly

£100,000+

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.

1.31%

Gross (%)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.

1.30%

Interest paid monthly

£50,000+

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.

1.31%

Gross (%)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.

1.30%

Interest paid monthly

£1+

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.

1.31%

Gross (%)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.

1.30%

These interest rates are correct as at 26 September 2023. Interest is calculated daily and paid monthly.
 

  • Yes. As this account pays a variable rate of interest the rate can change over time. The bank will take into account a number of factors in determining rates at any given time, for example we might review the interest rate if the Bank of England Bank Rate changes. We’ll always let you know of any planned changes to the rate. Our terms and conditions explain when and how we do this.

  • Below is an example of what the future balance might be, after interest has been paid. These projections are provided for illustrative purposes only and do not take into account the individual circumstances of the customer.

    Interest paid monthly

    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.

    Balance at 12 months

    Interest paid monthly

    £10,000,000

    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.

    1.90%

    Balance at 12 months

    £10,191,663.35

    Interest paid monthly

    £1,000,000

    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.

    1.83%

    Balance at 12 months

    £1,018,454.27

    Interest paid monthly

    £250,000

    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.

    1.30%

    Balance at 12 months

    £253,269.43

    Interest paid monthly

    £100,000

    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.

    1.30%

    Balance at 12 months

    £101,307.77

    Interest paid monthly

    £50,000

    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.

    1.30%

    Balance at 12 months

    £50,653.89

    Interest paid monthly

    £1,000

    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.

    1.30%

    Balance at 12 months

    £1,013.08

    This example assumed that:

    1. You don’t withdraw any money and interest isn't paid out of the account
    2. The interest rate stays the same
    3. Interest is paid monthly
    4. You make your initial deposit payment on the day you open the account
    5. You don’t make any further deposits
  • This account can be opened and managed by phone or online.

  • You can make withdrawals from this account and there are no charges for doing so.

  • Statements can be issued monthly, quarterly or annually, as requested.

    You can close this account at any time. We may ask you to confirm in writing.

    View all terms and conditions

Explore more from business savings

Protecting your deposits

The Financial Services Compensation Scheme (FSCS) will protect your deposits up to the value of £85,000, subject to eligibility criteria.

Find out more about FSCS

New to Lloyds Bank?

It’s easy to open an instant access account, even if you’re not a Lloyds Bank customer.

You can apply by calling us on 0800 056 0056.

 

Supporting UK Businesses

See how we’re supporting UK businesses in our latest Credential report.
 

Read our credentials report (PDF, 286KB)

Frequently asked questions

Other ways to save

Fixed Term Deposit

Deposit £10,000 or more and earn a fixed rate of interest for up to 2 years.

Explore Fixed Term Deposits

Notice Account

Grow your savings with terms that suit your business needs. Give us 32 or 95 days’ notice to withdraw your money.

Explore Notice Accounts

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.