Apply for, or upgrade to a Club Lloyds account

To apply for this account, you need to be aged 18 or older and live in the UK.

If you are not an existing Lloyds customer you may need to provide proof of identity

 

Reminder of what this account includes

  • £3 monthly fee, waived each month that you pay in £2,000 or more. 
  • Earn monthly credit interest when you pay out two different Direct Debits each month.
  • Choose a lifestyle benefit each year.

  • What is the credit interest rate on this account?

    • Balances between £1 - £3,999.99 receive 1.50% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (1.49% grossCloseGross 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. p.a) variable credit interest, paid monthly.
    • Balances between £4,000 - £5,000 receive 3.00% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (2.96% grossCloseGross 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. p.a) variable credit interest, paid monthly.
    • 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, if you have £4,500, you earn 1.50% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (1.49% grossCloseGross 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. p.a) variable interest on the first £3,999.99, then 3.00% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (2.96% grossCloseGross 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. p.a) variable on the rest.

    Interest on this account is paid gross, which means we won't deduct any tax from the interest paid on your account. You will need to pay any tax you may owe to HM Revenue & Customs (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 do not qualify. 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 do not receive the credit interest one month can I earn interest the following month?

    Yes, if in any month you do not receive the credit interest, you can still earn interest 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 to earn the credit interest on balances between £1 - £5,000.

  • As a Club Lloyds customer you can choose a different Lifestyle Benefit every year per account. There are four benefits available, each to suit different tastes:

    Disney+ subscription

    Stream brand new Originals, blockbusters, binge worthy series and more. There’s something for everyone to enjoy when you select a 12 month Standard With Ads Disney+ subscription. At this time, you are unable to upgrade your Disney+ subscription to Standard or Premium.

    Coffee and Dining offers

    An annual Coffee Club and Gourmet Society membership gives you 25% off barista-made drinks at Caffe Nero and 25% off your bill at brands such as Prezzo and thousands of independent restaurants. Get 50% off pizza takeaway alongside great discounts on theatre tickets and UK attractions.

    Cinema tickets

    Choose six cinema tickets from either ODEON cinemas or Vue cinemas. At Vue cinemas, your vouchers also entitle you to half price popcorn. At ODEON cinemas, you can redeem your vouchers at ODEON Kids Screenings, which come with a free small popcorn per ticket.

    Magazine subscription

    Choose one magazine to have delivered to your door and downloadable to your device (compatible with Apple and Android devices), or as a digital only subscription. For list of titles see Lifestyle benefits.

    Apple is a registered trademark of Apple inc. registered in the U.S and other countries. Android is a trademark of Google Inc.

    More information

Please read our optional arranged overdraft information

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.

  • You can apply to add an arranged overdraft to your account and you’ll only pay daily arranged overdraft interest if you use it.
  • If you use your arranged overdraft but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.

Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.

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.

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 arranged overdraft or anything over the new reduced limit you want. You can also apply to increase it. Using an arranged overdraft increases your overall borrowing and may affect your credit score.

If you don't have enough money in your account or available arranged overdraft 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.

Applying for this product does not improve your eligibility for an arranged overdraft.

All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.

  • Arranged overdraft details

    • £50 interest free amount
    • 39.9% EAR (variable) representative
    • Your interest rate will be based on how you manage any accounts you have with us and on the credit information we hold about you
    • No unarranged overdraft interest, fees or charges

    Representative Example

    A variable representative rate of 43.91% APR

    A variable interest rate of 39.9% EAREAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

    Based on borrowing £1,200

    The APR includes monthly account fees of £3* and an interest free amount of £50

    * The £3 fee is waived for each month you pay in at least £2,000 into your account. 

    How much does my overdraft cost in pounds and pence?

    As an example, the interest cost of borrowing £500 is:

    £3.22 for 7 days

    £13.86 for 30 days

    £28.09 for 60 days

    How does our overdraft compare?

    You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

    Useful tools

    You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

    Cost Calculator

     

    You can use our eligibility tool to find out if you are eligible for an arranged overdraft.

    Eligibility Tool

     

    More about personal arranged overdrafts

    Do you already have a current account with us and need an arranged overdraft?

    If you already have a current account with us, you can apply for an arranged overdraft through Internet Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft limit too.

    Log on to apply for an arranged overdraft

  • To qualify for the £200 switching offer (“the offer”) you must switch to a new Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account using the ‘Current Account Switch Service’ to switch from a bank account held with another bank. The following conditions apply:

    • Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to a new Club Lloyds Account (a £3 monthly fee may apply), a new Club Lloyds Platinum Account (£22.50 monthly fee applies, plus £3 monthly Club Lloyds fee may apply) or a new Club Lloyds Silver Account (£11.50 monthly fee applies, plus £3 Club Lloyds fee may apply) (‘Qualifying Account’). The ‘Current Account Switch Service’ will close your old account with the other bank; and
    • Your switch must include the transfer of a minimum of 3 active direct debits from your old account being switched to Lloyd’s as part of the offer. Direct debits set up after your switch has been started and other types of automated payments, such as standing orders and recurring card payments, won’t count towards the offer; and
    • Start your switch from your old bank account using the ‘Current Account Switch Service’ to a Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account between 2nd October 2024 and 10th December 2024.

    You can’t take part in the offer if:

    • You switch to any account other than a Club Lloyds Account, Club Lloyds Platinum Account, or Club Lloyds Silver Account.
    • You switch to any existing Lloyds bank account, or you change your existing Lloyds Bank Current Account to a Club Lloyds Account, Club Lloyds Silver or Club Lloyds Platinum Account.
    • You’ve received a switching offer since April 2020 for switching to any Lloyds, Bank of Scotland or Halifax Bank account.
    • You are switching to a joint account and one of the parties to the joint account has already received a switching offer since April 2020.
    • The bank you are switching from does not participate in the ‘Current Account Switch Service’. To find out more visit www.currentaccountswitch.co.uk
    • You are an employee of Lloyds Banking Group, or if an employee is on any bank account held in joint names.
    1. The offer applies to applications received in branch, online or by phone from 2nd October 2024 and 10th December 2024. The offer is subject to change and can be withdrawn without notice at any time.
    2. The offer does not automatically guarantee an arranged overdraft and any application for an arranged overdraft facility will be subject to status. If your Qualifying Account has an arranged overdraft, you won’t pay any daily arranged overdraft interest for 3 months provided you stay within your arranged overdraft limit and do not increase or otherwise change the arranged overdraft limit agreed.
    3. After 3 months, or if you change your account, you’ll be charged daily arranged overdraft interest applicable to the account you hold if you use your arranged overdraft. Please see the Personal Banking Terms and Conditions and Banking Charges leaflet for full details on arranged overdraft interest. You’ll have been given this when you opened your account, but if you would like another one, please ask in branch or look at www.lloydsbank.com/current-accounts/all-accounts
    4. Only one offer is available per customer. Joint accounts will only be paid one payment.
    5. The offer will be paid directly into your account within three working days of your switch completing and will appear as a cash credit. 

  • When will I receive the £200?

    The offer will be paid directly into your account within 10 working days of you starting your switch and will appear as a cash credit

    As an existing Lloyds customer can I qualify for the £200 offer?

    Yes, as long as you open a new qualifying account named in the terms and conditions and you haven’t received a switching incentive from us, Bank of Scotland or Halifax since April 2020. You must complete your switch using the Current Account Switch Service to switch a bank account held elsewhere with at least 3 active direct debits.

    Can I change my existing account to one of the qualifying accounts and still receive the offer?

    No, you must open a new qualifying account and start the switch. You can do this by signing in to Internet Banking or using the Mobile Banking app

    To qualify for the offer do I need to complete the switch at the time of opening my new bank account?

    No, as long as you start your switch by the 10th December 2024, you can complete your switch through Internet Banking or on our mobile app

    What types of payments qualify as direct debits?

    Your switch must include the transfer of a minimum of 3 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.

    Can I switch a joint account?

    Yes, to open a joint account online both parties must log-in to our Mobile Banking App or Internet banking, otherwise you can open an account in one person’s name and book an appointment with your local branch to add the 2nd person. If one of the parties has already received a switching offer since April 2020 from Lloyds, Halifax or Bank of Scotland, you won’t be eligible to receive the offer. 

Ready to open a Club Lloyds account?

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Important legal information

Lloyds and Lloyds Bank are trading names of 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.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

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 over 18 to apply.

Overdrafts are repayable in full on demand.

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.

Disney Plus and the Disney+ logo are registered trademarks of Disney Enterprises Inc.

Protecting your money. FSCS Protected.