Worried about paying your mortgage? We have various ways that we can help you.
A savings account for Club Lloyds customers which pays more interest if you make fewer withdrawals.
Earn 4.00% AER/3.93% gross variable interest on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.
Earn 1.30% AER/1.29% gross variable interest on balances from £1 if 4 or more withdrawals are made in the 12 months after opening. This lower interest rate will apply from the month you make the fourth withdrawal until the end of the account year.
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, 66KB) 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 deposit £1,000 when you open the account and make no withdrawals, the balance after 12 months will be £1040.01.
If you deposit £1,000 when you open the account and withdraw £10 on the first day of the month for the first four months of the term, the balance after 12 months will be £978.99.
This account can be opened and managed:
You can open the account if you’re:
To be a Club Lloyds customer, you must have one of the following current accounts:
Bear in mind:
Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.
You will get a higher rate of interest if you make 3 or less withdrawals in the twelve months from opening. If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the fourth withdrawal until the end of the account year.
Closing your account counts as a withdrawal.
If making an online transfer, it can only be made to an existing Lloyds Bank account.
After 12 months, your account will change to a Standard Saver. Before this happens, we’ll contact you to explain your options and next steps.
Gross rate means we won’t deduct tax from the interest we pay on money in your account. You will need to pay any tax you may owe to HM Revenue & Customs (HMRC).
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.
You can also open an account by calling us on 0345 300 0000. Lines are open 8am – 8pm, seven days a week (Not all Telephone Banking services are available 24 hours a day, seven days a week.) Or, visit us in branch.
If you've already got an easy access Lloyds Bank savings account, you can renew it into a Club Lloyds Advantage Saver.