Easy Saver

Saving is simple with our Easy Saver account. Open with just £1, save what you like and withdraw your money when you want to.

Please read the summary box before applying

Who this account is for

  • You need to be aged 16 or over and a UK resident.
  • Ideal if you want a flexible savings account with no charges.
  • Bear in mind, you'll need another Lloyds Bank account if you want to transfer money out of the account online.

The benefits

  • Earn 0.01% gross/AER variable. Interest is paid after a year.
  • You can have up to five Easy Saver accounts. You can name each one to help you save for different things.
  • Have a current account with us? Switch on Save the Change® to move a little to your savings when you spend on your Lloyds Bank debit card.

How it works

  • Open with just £1.
  • You can transfer money out of the account online but only to another Lloyds Bank account in your name. You can withdraw your money in branch.
  • After 12 months, you'll get your interest and the account will change to a Standard Saver.

Summary box for the Easy Saver

  • Earn 0.01% gross/AER variable on balances of £1 or more for 12 months.

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

     

  • 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, 64KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

     

  • For example, if you deposit £1000.00 when you open the account, the balance after 12 months will be £1000.10.

    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.
     
  • This account can be opened and managed:

    • online
    • on our app
    • in branch
    • by phone.

    You can open this account if you’re aged 16 or over and a UK resident.

    Open the account with at least £1. There is no maximum deposit limit.

    Online applications must be made in your sole name. You can make it joint by going into branch or calling us after you've opened it.

    You can open the account with £1. There is no maximum amount.

    You can have up to five Easy Saver accounts and name each one.

     

  • Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so. You can withdraw your money in any of our branches.
    You can transfer money out of the account online but only to another Lloyds Bank account in your name.

    After 12 months, your account will change to a Standard Saver. Before this happens, we’ll contact you to explain your options and next steps.

     

  • 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.

     

It's quick and easy to open an Easy Saver online

You can open this account if you're 16 or over and a UK resident.

Please read the summary box and the terms and conditions (PDF, 64KB) before you start.

Open nowfor an Easy saver account

You can also open an account by calling us on 0345 300 0000Lines are open Monday – Friday: 7am – 10pm, Saturday and Sunday: 8am – 6pm. Or, visit us in branch.

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