LLOYDS BANK SAVINGS ACCOUNTSClub Lloyds Saver

A variable interest account for Club Lloyds customers with instant access to your money


Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

0.35% gross/AER variable on balances over £1,500 for 12 months from account opening.

0.05% gross/AER variable on balances from £1-£1,499 for 12 months from account opening.

  • Open with just £1
  • Make unlimited deposits
  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening.
  • Unlimited
  • Online
  • Branch
  • Phone

0.35% gross/AER variable on balances over £1,500 for 12 months from account opening.

0.05% gross/AER variable on balances from £1-£1,499 for 12 months from account opening.

Features and benefits

  • Open with just £1
  • Make unlimited deposits
  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening.

Keep in mind

Withdrawals

  • Unlimited

Access

  • Online
  • Branch
  • Phone

Summary box for Club Lloyds Saver

1. What is the interest rate?

It’s a variable rate, as shown in the table below

Your balanceAnnual interest
Gross AER
£1,500+
0.35%
0.35%
£1-£1,499
0.05%
0.05%

  • You can choose to have your interest paid monthly or annually on the anniversary of the account opening.

2. Can Lloyds Bank change the interest rate?

Yes.
As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our terms and conditions explain when and how we do this.


3. What might the future balance be?

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

Initial depositGross rateBalance at 12 months
£1000.00
0.05%
£1000.50
£1500.00
0.35%
£1505.25

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • The interest rate stays the same
  • You make your initial deposit payment on the day you open the account
  • You don’t make any further deposits
  • Interest is paid annually

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).
  • You can open this account in your sole name or make it a joint account once opened
  • The minimum opening deposit is £1

Managing this account

  • You can have up to five Club Lloyds Saver accounts at any time

5. Can I withdraw money from this account?

Yes.
You can make withdrawals from this account and there are no charges for doing so.

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 a Standard Saver. See Standard Saver interest rates (pdf).

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 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.

Apply for annual interest

If you want your interest to be paid once a year

Apply now

Apply for monthly interest

If you want your interest to be paid once a month

Apply now

Other ways to apply

By phone:

Whether you’re a new or existing customer, call us on

0345 730 1400

Lines are open 7am–10pm Mon–Fri, 8am–6pm Sat–Sun

In branch:

Open an account with as little as £1 at your local branch

Find your nearest branch

Not the right savings account for you?

With so much choice, take a look at our range of other savings accounts to see which might suit you best.

See all savings accounts

Financial Services Compensation Scheme

FSCS logo