Earn a fixed rate of interest if you put your money away for one year.
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.
No. This account has a fixed rate of interest so the rate won't change during the term.
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 account can be opened and managed:
Bear in mind:
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.
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.
Take a look at our range of savings accounts to see which suits you best.
Learn how to build a savings habit with our savings articles.