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1 Year Fixed Rate Cash ISA

With this cash ISA, you can enjoy the peace of mind of a fixed interest rate for one year.

Please read the summary box before applying

Summary box for the 1 Year Fixed Rate Cash ISA

What is the interest rate? expandable section

4.60% AER/tax free fixed interest on balances of £1 or more for one year from account opening when interest is paid annually. An extra 0.35% AER/tax free will be added if you already have a Lloyds Bank personal current account that has been opened for a minimum of 40 days.

4.60% AER/4.51% tax free fixed interest on balances of £1 or more for one year when interest is paid monthly. An extra 0.35% AER/0.33% tax free will be added if you already have a Lloyds Bank personal current account that has been opened for a minimum of 40 days.

You can choose to have your interest paid annually or monthly.
Can Lloyds Bank change the interest rate? expandable section

No. This account has a fixed rate of interest so the rate won't change during the term.
What might the future balance be? expandable section
For example, if you deposit £3000.00 when you open the account, after 12 months you will have a balance of £3138.00 after interest is paid.

This assumes:
- interest is paid every 12 months after you open the account
- you make your deposit on the day you open the account and you don't add more money after that
- you don’t withdraw any money or interest.
How do I open and manage my account? expandable section
This account can be opened and managed:
- online
- on our app
- in branch
- by phone.
Bear in mind:
- you must be aged 16 or over and a UK resident for tax purposes with a national insurance number
- you need to open the account with £3,000 or more
- you must not have already saved in a cash ISA this tax year, unless you're going to complete an ISA transfer. This includes Help to Buy: ISAs and cash ISAs with other banks
- the account needs to be opened in your sole name. Cash ISAs cannot be joint
- you can pay up to £20,000 into a combination of permitted ISAs this tax year. Read more about ISA limits.
Can I withdraw money? expandable section

You can withdraw money from this account but you will be charged. You’ll be charged the equivalent of 90 days’ tax-free interest to make withdrawals, close your account early or transfer money to another ISA. This means you may get back less than you put in.

Any money you move into an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.

If you change your mind, you can cancel the account free of charge within 14 days of opening.

After one year, your account will change to an Instant Cash ISA. Before this happens, we’ll contact you to explain your options and next steps.
Additional information expandable section

Savings terms explained

Tax free means you will not pay income tax on your interest.

AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

For more definitions, view our glossary.

Open a 1 Year Fixed Rate Cash ISA

You can apply if you:

are aged 16 or over
are a UK resident for tax purposes
have £3,000 or more to save
have a national insurance number.

If you've already saved into a cash ISA this tax year, you'll have to do an ISA transfer. This includes Help to Buy: ISAs and cash ISAs with other banks.

Please read the summary box and the terms and conditions (PDF, 59KB) before you start.

You can also open an account by calling us on 0345 300 0000. Our lines are open Monday to Sunday from 8am – 8pm.
Not all Telephone Banking services are available 24 hours a day, seven days a week. Or, visit us in branch.