LLOYDS BANK CURRENT ACCOUNT
Club Lloyds
Variable credit interest and more great benefits with our Club Lloyds current account.
Arranged Overdraft
An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
- Setting up an arranged overdraft is free and you’ll only pay a daily arranged overdraft fee if you use more than the fee-free amount of £100.
- If you use your arranged overdraft but pay it back before midnight the same day, then you won’t pay an arranged overdraft fee for that day.
- Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later. All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
- Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an overdraft or anything over the new reduced limit you want. You can also apply to increase it. This application won't affect your credit score.
- Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.
- Unarranged overdraft - If you don't have enough money in your account to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.
Changes to this account due 6th April 2020
On the 6th April we will be making changes to our bank accounts. Changes include how we charge for arranged overdrafts and reducing fee free amounts on accounts that have them. For accounts that earn credit interest, we will change the way it is calculated. For a full explanation please read the guide to changes.
You can also apply for this account by calling us on 0800 015 4000 (Lines are open Monday - Friday 8am - 10pm, Saturday and Sunday 8am - 6pm) or by booking an appointment at your nearest branch. You can book by calling us on 0345 300 0000 (+44 1733 347 007 from outside the UK). Lines are open 7am - 11pm, 7 days a week.
You can apply or upgrade to a Club Lloyds account if:
- You're aged 18 or older
- You're a resident in the UK
- You're an EU national. or have permission to stay in the UK for at least 12 months
- If you are not an existing Lloyds customer you will need to provide proof of identity.
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What is the credit interest rate on this account?
What is the credit interest rate on this account?
Balances between
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
Balances between
£1 - £3,999.99
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
1.00%
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
0.99%
Balances between
£4,000 - £5,000
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
2.00%
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
1.98%
You could earn 1.00% AER (0.99% annual gross) credit interest on balances between £1 and £3,999.99, and 2.00% (1.98% annual gross ) on any part of the balance from £4,000 up to and including £5,000. You won’t earn interest on any part of your balance over £5,000.
You just need to pay out two different direct debits from your Club Lloyds account each calendar month. Interest is variable, worked out daily and paid monthly.
For example, when you have £4,500 in your account, you could earn interest of 1.00% AER (0.99% annual gross) on the first £3,999.99 and 2.00% (1.98% annual gross) on the rest.
Please note interest paid before 6th April 2016 will have been paid net (unless you registered the account with us to receive gross interest) . Net is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).
From 6th April 2016 interest is paid Gross, meaning we will not deduct tax on your behalf. Dependant on your personal circumstances, tax may be due on your interest and it is your responsibility to disclose and pay any tax due directly to HMRC.
What do I have to do to earn the credit interest?
You need to pay at least two separate Direct Debits from your Club Lloyds current account each calendar month.
Please note, qualifying Direct Debits must come out monthly, quarterly Direct Debits are not eligible. Also Standing Orders do not qualify.
Can I earn credit interest on balances over £5,000?
No, credit interest is not payable on the amount of any balance over £5,000.
When is the credit interest paid?
If you earn the credit interest, it will be paid into your Club Lloyds current account by the second working day of the following calendar month.
If you do not earn the credit interest, you won't receive payment the following calendar month.
If I miss out on the credit interest one month, can I earn it the next month?
Yes, if in any month you miss out on the credit interest, you can still earn it in future months. Just make sure you pay out two separate Direct Debits in the next calendar month.
Do I have to pay out two separate Direct Debits each month?
No, there is no requirement on this account to pay out two separate Direct Debits each month. You only have to pay out two separate Direct Debits each month if you want to earn the credit interest on balances between £1 - £5,000.
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As a Club Lloyds customer you can choose a different Lifestyle Benefit every year per account
Cinema Tickets
- 6 cinema tickets to use during the year at over 80 locations across the UK.
- Cinema tickets can be used for standard 2D admission ticket and can also be used as part payment on non-standard admission, e.g. 3D screenings.
- Tickets are valid for 12 months.
You can now upgrade Vue cinema vouchers for VIP tickets at no extra cost when you book online or at the box office, subject to availability. Cineworld vouchers continue to apply to standard seating only.
Magazine subscription
Choose 1 of the following 27 magazines to have delivered to your door or downloadable to your device (compatible with Apple and some titles compatible with Android™ devices).
Titles available in print and Digital subscription (Apple)
Bike
Car
Cosmopolitan
Country Living
Country Walking
ELLE
ELLE Decoration
Empire
Esquire
Food to Love
Garden Answers
Good House Keeping
Harper's Bazaar
House Beautiful
Improve Your Coarse Fishing
Landscape
Men's Health
Mother & Baby
Practical Photography
Prima
Q
Red
Runner's World
Steam Railway
Today's Golfer
Top Sante
Women's Health
Titles available in print and Digital subscription (Apple and Android)
Bike
Car
Country Walking
Empire
Garden Answers
Improve Your Coarse Fishing
Mother & Baby
Practical Photography
Q
Steam Railway
Today's Golfer
Top Sante
Apple is a registered trademark of Apple inc. registered in the U.S and other countries. Android is a trademark of Google Inc.
Dining offers
Gourmet Society membership gives you discounts at more than 6,000 restaurants around the UK and Ireland, giving you to unlimited access to offers such as:
- 2 for 1 meals
- 25% off your total bill
- 50% off food
More information
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As a Club Lloyds customer you'll get exclusive access to offers on a range of Lloyds Bank products.
Savings: Club Lloyds Monthly Saver
This savings account is for people who want to save on a regular basis for 12 months and get a fixed rate of interest.
- Save from £25 to £400 a month.
- Receive 2.50 % gross/AER interest on your savings. Interest is fixed so it won’t change during the term.
- Withdraw your money when you need it without charge.
More about the Club Lloyds Monthly Saver
Savings: Club Lloyds Saver
This savings account is for people who want to save as often as they like and have instant access to their money.
- Open with just £1.
- Receive variable interest on your savings. Interest is 0.20% gross/AER on balances of £25,000 or more, and 0.01% gross/AER on balances below £25,000.
- Withdraw money when you like without charge.
More about the Club Lloyds Saver
Mortgages
As a Club Lloyds current account customer you can take advantage of exclusive offers when you take out a mortgage with us.
You must have a Club Lloyds current account open at the time of mortgage application.
You can also use our online form to book an appointment in branch to see one of our dedicated Mortgage and Protection Advisers, or call us on 08007 83 35 34.
You could lose your home if you don’t keep up your mortgage repayments
Home Insurance
- As a Club Lloyds customer we’ll give you a 10% discount when you take out a new combined buildings and contents policy, upgrade from a buildings-only or contents-only policy to a combined one, or renew an existing combined policy.
- The Club Lloyds offer is available on Home Solutions and Home Options products and is not available via comparison sites. This offer is in addition to all other offers you may be entitled to. Minimum premiums may apply – please see the separate offer conditions for each product.
- For more about our Home Solutions insurance visit us in branch or call us on 0800 022 4857. For Home Options insurance please log in to Internet Banking or call us on 0800 056 0122.
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Arranged Overdraft
- Setting up an Arranged Overdraft is free.
- You'll only pay a daily arranged overdraft fee if you use it.
- You can apply for an Arranged Overdraft, where up to the first £100 is fee-free.
- All overdrafts are subject to our assessment of your circumstances and are repayable on demand.
Representative example:
If you use an Arranged Overdraft of £1,200 on your Club Lloyds Account, then we’ll charge you a daily arranged overdraft fee of £1.83. For Club Lloyds, the daily arranged overdraft fee on the first £100 is 0p.
Three month fee free arranged overdraft offer
If you are looking to switch to us we may be able to arrange fee free Arranged Overdraft for 3 months, subject to application and approval.
How to apply for the arranged overdraft
At the end of your current account application, we may offer you an arranged overdraft. If we do, you can add it right away. You can also apply for one later.
Arranged overdrafts are repayable in full, on demand, and subject to approval.
Are you eligible for the arranged overdraft offer?
To qualify for the fee-free offer you must :
- Use the Current Account Switch Service. This service means your old account will be closed and all your payments transferred to your new Lloyds Bank account
- Have not used the offer within the last 12 months
- Have applied, and been approved for, an Arranged Overdraft on your new Lloyds Bank account
More about Personal Overdrafts
Looking to open a current account with us?
When you apply for this account, we may offer you an arranged overdraft at the end of the application, which you can add right away.
Apply for a Club Lloyds account
Already have an account with us?
You can apply for an arranged overdraft through Internet or Mobile Banking. You can also apply to increase your existing arranged overdraft limit too.
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We will do the hard work for you.
We will transfer everything safely and securely in 7 working days with the Current Account Switch Service.
- The service is free to use.
- You can choose your switch date to us.
- If anything goes wrong, you are covered by the switch guarantee.
how the process could work
Day 1
Day 1-6
Day 7
You do
Day 1
Choose a current account and apply. After applying, complete our switch form.
Day 1-6
You can still use your old account and your new Lloyds account.
Day 7
Enjoy your Lloyds Bank account.
We do
Day 1
We'll start your switch.
Day 1-6
We will transfer payments from your old account to your new account.
Day 7
Switch complete. We move the funds in your old account to your new Lloyds Bank account and close your old account.
The Current Account Switch Service lets you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account.
We will also contact the sender and give them your new account details. If there are any issues in making the switch, we will contact you before your switch date. If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
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- Personal banking terms and conditions & Banking charges guidePDF opens in a new tab. (pdf, 405.2 KB)
- Club Lloyds welcome packPDF opens in a new tab. (pdf, 4.6 MB)
- Fee Information DocumentPDF opens in a new tab. (pdf, 143.5 KB)
- Club Lloyds lifestyle benefits terms and conditionsPDF opens in a new tab. (pdf, 61.9 KB)
- Current account ratesPDF opens in a new tab. (web)
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. 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.
We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.
Account opening is subject to our assessment of your circumstances. You must be 18 or over to apply.
Overdrafts are repayable in full on demand. View Arranged Overdraft borrowing fees.
To be eligible for the switcher fee-free offer you must be accepted for an Arranged Overdraft on your Lloyds Bank account, have not had the offer in the last 12 months on your account, and complete a switcher application to switch your account to Lloyds Bank.
PhoneBank® is a registered trademark of Lloyds Bank plc.
Cashpoint is a registered trademark of Lloyds Bank plc.
Save the Change® is a registered trademark of Lloyds Bank plc.
Money Manager is provided to help you manage your personal finances and is not intended to provide legal, tax or financial advice. Personal Internet Banking customers only. Terms and conditions apply. Mobile Banking services may be affected by phone signal and functionality. Must be registered for Internet Banking. Terms and conditions apply.
You need to register for Internet Banking, PhoneBank® and Mobile Banking. Terms and conditions apply.
We don't charge you to use Mobile Banking, but your mobile operator may charge for some services, so please check this with them.
Club Lloyds Lifestyle Benefits are administered by Hawk Incentives Limited, on behalf of Lloyds Bank. The benefits available for selection may be changed or updated from time to time.