ISAs (individual savings accounts) are a way of saving money without paying personal tax on interest or returns you earn. There are two main types of ISA that we offer, cash ISAs and stocks and shares ISAs.
On 4th August 2016 the Bank of England announced a decrease in the Bank of England Base Rate from 0.50% to 0.25%.
We are making some changes to the conditions for our cash ISAs, which come into effect on 6 April 2017. The changes will allow transfers in from and out to a new type of ISA called a Lifetime ISA. Lloyds do not currently offer Lifetime ISAs.
You will be able to view the up to date conditions from 6 April 2017.
You can choose to save or invest your allowance in a cash ISA, a stocks & shares ISA, a lifetime ISA (depending on your age and circumstance and up to the lifetime ISA limit), an innovative finance ISA, or a combination of all four, providing you don't exceed the annual limit.
Lloyds Bank offer two types of ISA:
The junior ISA allowance for this tax year is £4,128 and covers contributions to both junior cash ISAs and junior investment ISAs.
THE VALUE OF YOUR INVESTMENTS AND THE INCOME FROM THEM CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU ORIGINALLY INVESTED. YOU MUST BE AT LEAST 18 OR OVER TO OPEN A STOCKS AND SHARES ISA. TAX TREATMENT DEPENDS ON YOUR INDIVIDUAL CIRCUMSTANCES AND MAY CHANGE.
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.ukVisit the Financial Conduct Authority website. 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.ukVisit the Lending Standards Board website.
Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065.
Save the Change® is a registered trademark of Lloyds Bank plc.
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 contain an AER you will be able to compare more easily what return you can expect from your savings over time.
Gross rate means we will not 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 and Customs (HMRC).
The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.