Features and benefits

Earn up to 3.00% AER

Earn up to 3.00% AER/2.96% gross variable monthly interest if you make 3 or less withdrawals in the 12 months after opening, or 0.90% AER/gross variable if you make 4 or more withdrawals.

Instant access

Instant access to your savings. Make withdrawals from this account and there are no charges.

Save the Change®

If you have a current account with us, activate Save the Change® to save when you use your debit card.

Let's break it down

Who it's for

You can open this account if you are:

  • a Club Lloyds or Lloyds Premier current account holder
  • aged 18 or over and a UK resident.

How it works

  • Open with just £1.
  • You can transfer your money online to a Lloyds account in your name, an account with another financial provider or you can withdraw your money in a branch with a counter.
  • You can have up to five Club Lloyds Advantage Saver accounts. You can name each one to help you save for different things.
  • After 12 months, we'll change your account to a Standard Saver.

Summary box for the Club Lloyds Advantage Saver

  • Earn 3.00% AER/2.96% gross variable interest on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.

    Earn 0.90% AER/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 £1,030.00.

    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 £973.75.

    This assumes:

    • You make the deposit on the day you open the account.
    • You don’t add any more money.
    • The interest rate stays the same.
  • You can open and manage this account:

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

    You can open the account if you’re aged 18 or over, a UK resident and a Club Lloyds or Lloyds Premier 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.

    Keep 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 can take your money out straight away by transfer to another Lloyds Bank account or an account with another financial provider; or through one of our branches with a counter.

    You'll get a higher rate of interest if you make three or less withdrawals in the twelve months from opening. If you make four 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.

    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

    This 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

    This 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 Club Lloyds Advantage Saver

Read the summary box and the terms and conditions (PDF, 66KB) before you start.

 

 

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 Club Lloyds Advantage Saver.

 

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 Club Lloyds Advantage Saver.

Get the app

Apply online

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

Open account

Protecting your money

The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of the eligible money you hold with us.

More about the FSCS



Protecting your money

The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of the eligible money you hold with us.

More about the FSCS

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