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Easy Saver
Open an Easy Saver account with just £1, save what you like and withdraw your money when you want to. Read the summary box before applying.
Features and benefits
Let's break it down
Summary box for the Easy Saver
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1.05% AER/gross on balances from £1 to £24,999.
1.15% AER/gross on balances from £25,000 to £99,999.
1.20% AER/gross on balances of £100,000 or more.
The interest rate is variable and applies to the full balance. Interest is paid 12 months after opening the account.
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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, 51KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.
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For example, if you deposit £1,000.00 when you open the account, the balance after 12 months will be £1,010.50.
If you deposit £25,000.00 when you open the account, the balance after 12 months will be £25,287.50.
If you deposit £100,000.00 when you open the account, the balance after 12 months will be £101,200.00.
This assumes:
- the interest rate stays the same for 12 months
- you make your deposit on the day you open the account and you don't add more money after that
- you don't withdraw any money or interest.
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You can manage your account:
- online
- on our app
- in branch
- by phone.
You can open this account if you’re 16 years old or over and a UK resident.
If you have a Smart Start savings account with us, it'll change into this account at the end of its term.
Open with just £1. There is no maximum deposit limit.
Online applications must be made in your sole name. To make it joint, please go into the branch or call us.
Open up to five Easy Saver accounts and name each one.
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Yes. You can make unlimited withdrawals with no charges.
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.
After 12 months, your account will change to a Standard Saver. We'll contact you in advance to explain your options and next steps.
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Savings terms explained
Gross rate
This means we won’t take tax from the interest we pay on money in your account. You’ll 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’ll 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 an Easy Saver
Read the summary box and the terms and conditions (PDF, 51KB) before you start.
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Do you want to apply offline?
If you’d prefer to speak to someone, give us a call or visit your nearest branch.
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