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2 Year Fixed Rate Cash ISA

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

Who this account is for

  • You need to be aged 16 or over and  a UK resident for tax purposes with a national insurance number.
  • You're ready to save at least £3,000.
  • You haven't 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 benefits

  • Earn 0.75% tax free/AER fixed interest for two years from account opening.
  • The interest rate is fixed so it won’t change during the term.
  • You can choose to have your interest paid monthly or annually.

How it works

  • Open with £3,000 or more. You can save up to £20,000 in a combination of permitted ISAs this tax year. Read more about ISA limits.
  • You can withdraw money from this account but you will be charged the equivalent of 180 days' tax-free interest.
  • After two years, your account will change to an Instant Cash ISA. See our Instant Cash ISA interest rates (PDF).

Summary box for the 2 Year Fixed Rate Cash ISA

1. What is the interest rate?

Earn 0.75% tax free/AER fixed interest on balances of £1 or more for two years from account opening.

You can choose to have your interest paid monthly or every 12 months after you open the account.


2. Can Lloyds Bank change the interest rate?

No. This account has a fixed rate of interest so the rate won't change during the term.


3. What might the future balance be?

For example, if you deposit £3000.00 when you open the account, after 24 months you will have a balance of £3045.16 after interest is paid.

This assumes:

  • the interest rate stays the same for two years
  • 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.

4. How do I open and manage my account?

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 must be opened in your sole name
  • you can save up to £20,000 in a combination of permitted ISAs this tax year. Read more about ISA limits
  • after two years, your account will change to an Instant Cash ISA. See our Instant Cash ISA interest rates (PDF).

5. Can I withdraw money?

You can withdraw money from this account but you will be charged. You’ll be charged the equivalent of 180 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.


6. Additional information

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 2 Year Fixed Rate Cash ISA

You can open an account if:

  • you're aged 16 or over and a UK resident for tax purposes with a national insurance number
  • you're ready to save at least £3,000
  • you haven't 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.

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

Open a 2 Year Fixed Rate Cash ISA online in about five minutes

You can also open an account by calling us on 0345 300 0000. Our lines are open Monday to Sunday from 7am to 11pm. Or, visit us in branch.

Not the right ISA for you?

Take a look at our range of ISAs to see which ticks your boxes.

More about ISAs

Make the most of your tax-free savings with our ISA guides.

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