LLOYDS BANK SAVINGS ACCOUNTSClub Lloyds Monthly Saver

At a glance

Summary box for Club Lloyds Monthly Saver

1. What is the interest rate?

It’s a fixed rate as shown in the table below

• Your interest is paid annually on the anniversary of the account opening.

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?

Below is an example of what the future balance might be, after interest has been paid:

This example assumes that:

• You don’t withdraw any money and interest isn’t paid out of the account
• You make regular monthly deposits in the middle of the month

4. How do I open and manage my account?

This account can be opened and managed in branch, by phone or online.

Opening this account

• You must be 18 or over and resident in the UK
• You must already have a Club Lloyds current account or a Club Lloyds Added Value Account (Silver, Gold, Platinum or Premier).
• Online applications must be made in your sole name but the account can be made joint in branch or over the phone once opened

Managing this account

• You can save between £25 and £400 every month by standing order (this must reach your account by the 25th of the month).
• You can only have one Club Lloyds Monthly Saver in your sole name or held jointly
• If you close the account early, you won’t be able to open another one before the first anniversary of opening the first account.

5. Can I withdraw money?

Yes.
You can make withdrawals from this account and there are no charges for doing so. You can't, however, replace any money you withdraw.

If making an online transfer, it can only be made to an existing Lloyds Bank account.

After 12 months the account will automatically change to an Easy Saver. Before this happens, we'll contact you to explain your options and next steps.

6. Additional information

Gross rate means we won’t deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.

Apply for a Club Lloyds Monthly Saver

To set up an account online you'll need to be 18 or over, a UK resident, and a Club Lloyds current account customer.