Club Lloyds Monthly Saver

Summary box for Club Lloyds Monthly Saver

1. What is the interest rate?

Earn 2.50% gross/AER fixed on balances of £1 or more for 12 months from account opening.

Your interest is paid 12 months after you open the account.

2. Can Lloyds Bank change the interest rate?

No. This account has a fixed rate of interest so the rate won't change during the term.

3. What might the future balance be?

For example, if you deposit £100.00 every month for 12 months you will have a balance of £1215.00 after interest is paid.

This assumes:

• the interest rate stays the same for 12 months
• interest is paid 12 months after you open the account
• you deposit £100.00 in the middle of each month
• 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 18 or over and a UK resident to open an account
• you need to have a Club Lloyds current account or a Club Lloyds Added Value Account (Silver, Gold, Platinum or Premier)
• you must not have opened a Club Lloyds Monthly Saver in the last 12 months
• you can only have one Club Lloyds Monthly Saver and this must be opened in your sole name. You can make it joint by going into branch or calling us after you've opened it
• you can save £25-£400 every month by one standing order. This needs to be in your account before the 25th of the month
• if you close the account within 12 months of opening it, you won’t be able to open another one until after the anniversary date
• after 12 months, your account will change to an Easy Saver.

5. Can I withdraw money?

Yes. You can make as many withdrawals as you like and there are no charges for doing so.

Please note, if you withdraw money you will not be able to replace it. This is because you can only make one deposit of £25-£400 each month by standing order.

You can transfer money out of the account online, but only to another Lloyds Bank account.

6. Additional information

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.

Open a Club Lloyds Monthly Saver

You can open an account if:

• you're aged 18 or over and a UK resident
• you have a Club Lloyds current account
• you haven't opened one of these accounts in the last 12 months.

Please read the summary box and the terms and conditions (PDF) before you start.

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