Limited Access ISA

Our cash ISA which offers a better interest rate when fewer withdrawals are made.

Open account

Read the summary box and terms and conditions (PDF, 84KB) before you apply.

Features and benefits

Earn up to 3.00% AER

Earn 3.00% AER/2.96% tax free variable monthly if you make 2 or less withdrawals in the 12-month account term.

You’ll earn 0.65% AER/tax free variable monthly if you make 3 or more withdrawals in the 12-month account term. See summary box for details.

How this worksIf you make 2 or fewer withdrawals, you’ll get paid the higher rate of interest for the whole term. If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the 3rd withdrawal until the end of the account term.

Monthly interest

Your interest will be paid monthly on the same date you opened the account.

Let's break it down

Who it's for

You can open this account if you:

  • are aged 18 or over
  • are a UK resident for tax purposes
  • have a National Insurance number.

How it works

  • Open with £1 or more, then save as you like up to the ISA limit. Pay up to £20,000 into a combination of permitted ISAs this tax year. Read more about ISA limits.
  • You can transfer your money online to another Lloyds account in your name, an account with another financial provider or you can withdraw your money in a branch with a counter.
  • After 12 months, your account will change to an Instant Cash ISA.

Summary box for the Limited Access ISA

  • 3.00% AER/2.96% tax free variable monthly on balances from £1 if 2 or less withdrawals are made in the 12-month account term.

    0.65% AER/tax free variable monthly on balances from £1 if 3 or more withdrawals are made in the 12-month account term. This lower interest rate will apply from the month you make the 3rd withdrawal until the end of the account term.

    Interest is paid monthly on the same date you open your account.

  • 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, 84KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

  • For example, if you put in £1,000.00 when you open the account and make no withdrawals, the balance after 12 months will be £1,030.00.

    If you put in £1,000.00 when you open the account and withdraw £10 on the first day of the month, for the first 3 months of the term, the balance after 12 months will be £980.04.

    This assumes:

    • The interest rate stays the same for 12 months.
    • You put money in the day you open the account and don’t add more money after that.

  • Existing customers can open an account online, in app, by phone, or in branch.

    New customers can open online only.

    This account can be managed:

    • online
    • in our app
    • in branch
    • by phone.

    Opening this account

    You must be aged 18 or over, resident in the UK for tax purposes with a National Insurance number.

    If you haven't already saved into a cash ISA with us this tax year you can open a cash ISA with us by completing an ISA transfer from another provider. 

    You need to open this account with £1 or more.  ISAs have an annual limit this tax year of £20,000 for new money, and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.

    The account can only be opened in your sole name because cash ISAs cannot be joint accounts.

    Managing the account

    As with all ISAs, there are some rules:

    • Cash ISAs cannot be joint accounts.
    • You can save up to £20,000 into a combination of permitted ISAs this tax year.
    • ISA rules allow you to pay into more than one cash ISA in each tax year, but we only let you pay into one cash ISA with us. You can open a cash ISA with us by completing an ISA transfer from another provider.

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

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

    You’ll get a higher rate of interest if you make 2 or less withdrawals in the 12-month account term. 

    If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the third withdrawal until the end of the account term.

    Closing your account counts as a withdrawal.

    You can transfer your money online to another Lloyds account in your name, an account with another financial provider or you can withdraw your money in a branch with a counter.

    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 to an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in future.

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

    After 12 months the account will change to an Instant Cash ISA. Before this happens, we'll contact you to explain your options and next steps.

  • Savings terms explained

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

    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 Limited Access ISA

You should read the summary box and the account conditions (PDF, 84KB) before you apply.

 

 

It's simple in the app

Scan the QR code to get it.

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings then Limited Access ISA.

 

Apply online

Whether you're an existing customer or not, you can apply on our website.

Open account

It's simple in the app

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings, then Limited Access ISA.

Get the app

Apply online

Whether you're an existing customer or not, you can apply on our website.

Open account

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