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LLOYDS BANK ISA ACCOUNTSCash ISA Saver

An instant access Individual Savings Account (ISA) that pays you tax free interest at a variable rate

Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

0.35% tax free/AER variable for 12 months from account opening

  • Open with just £1.
  • Your interest is paid tax free.
  • ISAs have an annual limit this tax year of £20,000 for new contributions, and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.
  • Your interest is paid on 31 March each year and on the anniversary of the account opening.
  • You can also transfer an existing ISA to us.
  • You can only save into one cash ISA in a tax year. This includes Help to Buy: ISAs and cash ISAs held outside Lloyds. For more information, read our guide to ISAs.
  • After 12 months the account will automatically change to an Instant Cash ISA. See Instant Cash ISA interest rates (PDF).
  • You need your National Insurance number to apply.
  • Unlimited.
  • This is a flexible ISA, so if you make a withdrawal, you can pay that money back in to this account before the end of the tax year and not affect the amount you can save in your cash ISA tax free.

 

  • Online
  • Branch
  • Phone

0.35% tax free/AER variable for 12 months from account opening

Features and benefits

  • Open with just £1.
  • Your interest is paid tax free.
  • ISAs have an annual limit this tax year of £20,000 for new contributions, and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.
  • Your interest is paid on 31 March each year and on the anniversary of the account opening.
  • You can also transfer an existing ISA to us.

Keep in mind

  • You can only save into one cash ISA in a tax year. This includes Help to Buy: ISAs and cash ISAs held outside Lloyds. For more information, read our guide to ISAs.
  • After 12 months the account will automatically change to an Instant Cash ISA. See Instant Cash ISA interest rates (PDF).
  • You need your National Insurance number to apply.

Withdrawals

  • Unlimited.
  • This is a flexible ISA, so if you make a withdrawal, you can pay that money back in to this account before the end of the tax year and not affect the amount you can save in your cash ISA tax free.

 

Access

  • Online
  • Branch
  • Phone

Summary box for Cash ISA Saver

1. What is the interest rate?

It’s a variable rate as shown in the table below

Your balanceAnnual interest
Tax freeAER
£1+
0.35%
0.35%

  • Your interest is paid on 31 March each year and on the anniversary of the account opening.

2. Can Lloyds Bank change the interest rate?

Yes.
As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our terms and conditions explain when and how we do this.


3. What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid:

Initial depositTax free rate Balance after 12 months
£1000.00
0.35%
£1003.50

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • The interest rate stays the same
  • You make your initial deposit payment on the day you open the account
  • You don't make any further deposits

4. How do I open and manage my account?

This account can be opened and managed in branch, by phone or online.

Opening this account

  • You must be 16 or over and resident in the UK for tax purposes
  • You can only open this account in your sole name
  • The minimum opening deposit is £1.
  • To transfer an existing ISA into your new account from either Lloyds Bank or another Bank, you must complete the ISA Transfer Request.

Managing this account

  • ISAs have an annual limit this tax year of £20,000 for new contributions, and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.
  • Keep in mind; you can only save into one cash ISA in a tax year. This includes Help to Buy: ISAs and cash ISAs held outside Lloyds.

5. Can I withdraw money?

Yes.
You can make withdrawals from this account and there are no charges for doing so.

This is a flexible ISA, so if you make a withdrawal, you can pay that money back in to this account before the end of the tax year and not affect the amount you can save in your cash ISA tax free.

If you choose to close the account and move the money to a non-ISA account, your savings will lose their tax-free status. The tax treatment depends on your individual circumstances and may change in future.

After 12 months the account will automatically change to an Instant Cash ISA. See Instant Cash ISA interest rates (pdf).

Before this happens, we'll contact you to explain your options and next steps.


6. Additional information

Tax free is the rate of interest payable to you where your interest is exempt from income tax.

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 include an AER, it makes it easier for you to compare what return you can expect from your savings over time.


Apply for a Cash ISA Saver

To set up an account online, you'll need to be 16 or over and resident in the UK for tax purposes.

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

Apply to open a Cash ISA Saver online in about five minutes and with as little as £1Apply now

Not the right ISA for you?

With so much choice, take a look at our range of other ISAs to see which might suit you best.

See all ISAs