Inside content area, use arrow keys or tab to access content

Cash ISA Saver

Want to save but also have instant access to your money? With this flexible cash ISA, you can do just that.

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 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.
  • Ideal if you want instant access to your savings.

The benefits

  • Earn 0.20% tax free/AER variable interest for 12 months from account opening.
  • This is a flexible ISA which means you can withdraw money and put it back in without counting towards your annual ISA limit.
  • There are no charges for withdrawing your money.

How it works

  • Open with £1 or more.
  • You can save up to £20,000 in a combination of permitted ISAs this tax year. Read more about ISA limits.
  • After 12 months, your account will change to an Instant Cash ISA. See our Instant Cash ISA interest rates (PDF).

Summary box for the Cash ISA Saver

1. What is the interest rate?

Earn 0.20% tax free/AER variable interest on balances of £1 or more for 12 months from account opening.

Your interest is paid twice a year. This is on the 31st March and 12 months after you open the account.


2. Can Lloyds Bank change the interest rate?

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


3. What might the future balance be?

For example, if you deposit £1000.00 when you open the account, after 12 months you will have a balance of £1002.00 after interest is paid.

This assumes:

  • the interest rate stays the same for 12 months
  • interest is paid twice a year
  • 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 £1 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 12 months, 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 and there are no charges for doing so.

This is a flexible ISA which means you can withdraw money and put it back in without counting towards your annual ISA limit.

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 Cash ISA Saver

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 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 Cash ISA Saver 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.

Financial Services Compensation Scheme

FSCS logo