Club Lloyds Advantage Saver
A savings account for Club Lloyds customers which pays more interest if you make fewer withdrawals.
Please read the summary box before applying
Summary box for the Club Lloyds Advantage Saver
Earn 1.75% gross/AER variable interest for the whole year if three or less withdrawals are made in the 12 month term.
Earn 0.30% gross/AER variable interest for the whole year if four or more withdrawals are made in the 12 month term.
Interest is paid on balances of £1 or more. It's paid 12 months after you open the 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 £1,017.50.
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 £962.89.
- You make the deposit on the day you open the account.
- You don’t add any more money.
- The interest rate stays the same.
This account can be opened and managed:
- on our app
- in branch
- by phone.
You can open the account if you’re:
- aged 18 or over
- a UK resident
- a Club Lloyds customer.
To be a Club Lloyds customer, you must have one of the following current accounts:
- Club Lloyds.
- Club Lloyds Silver.
- Club Lloyds Gold.
- Club Lloyds Platinum.
- Club Lloyds Premier.
- Club Lloyds Mayfair Current Account.
- Club Lloyds Mayfair High Interest Cheque Account.
- Club Lloyds Private Banking Premier Current Account.
- Club Lloyds Private Banking Account.
Bear in mind:
- You can have up to five Club Lloyds Advantage Saver accounts and name each one.
- You need to open the account in sole name but you can make it joint once it's open.
- Open with just £1.
- If you change your mind, you can cancel the account free of charge within 30 days of opening.
Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.
You’ll get a higher interest rate if you make fewer withdrawals within the 12-month term. For three or less withdrawals, we’ll pay all your interest at the higher rate. If you make four or more withdrawals, we’ll pay all your interest at the lower rate. 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.
Savings terms explained
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.