LLOYDS BANK SAVINGS ACCOUNTSFixed Bond

Summary box for Fixed Bond - 2 years

1. What is the interest rate?

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

• 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?

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 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 or by phone.

Opening this account

• You must be 16 or over and resident in the UK
• Online applications must be made in your sole name but the account can be made joint in branch or over the phone once opened
• The minimum opening deposit is £2,000
• The term starts on the day you open the account
• You have to make your initial deposit within 10 days of opening the account
• You can make as many deposits as you like within these 10 days
• After the 10 days are up, you won’t be able to make any more deposits

5. Can I withdraw money?

You can’t make withdrawals from this account but you can close the account early by visiting one of our branches with a counter. Bear in mind that if you close the account before the end of the two year term, you’ll be charged the equivalent of 180 days’ gross interest. This means you may get back less than you put in.

After two years 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. 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.

Apply for a Fixed Bond account

You can only open a Fixed Bond account over the phone or in branch.

Please read the summary box and the terms and conditions (PDF) before applying.