Fixed Bond

Put your money away for two years and get the peace of mind of a fixed interest rate.

Please read the summary box before applying

Who this account is for

  • You need to be aged 16 or over and  a UK resident.
  • You need to have at least £2,000 to save.
  • Ideal if you want to put money away for two years. Bear in mind, you can't withdraw money from this account.

The benefits

  • Earn 3.90% gross/AER fixed interest for two years. 
  • An extra 0.05% gross/AER will be added if you already have a Lloyds Bank personal current account that has been opened for a minimum of 40 days.
  • The interest rate is fixed so it won't change during the term.
  • You can choose to have your interest paid annually or monthly.

How it works

  • Open with £2,000 or more.
  • You have 10 days from the account opening to make your deposit. After the 10 days are up, you can't make any further deposits.
  • After two years, your account will change to a Standard Saver.

Summary box for the Fixed Bond

  • 3.90% gross/AER fixed interest on balances of £1 or more for two years from account opening when interest is paid annually.

    3.83% gross/ 3.90% AER fixed interest on balances of £1 or more for two years when interest is paid monthly.

    An extra 0.05% gross/AER will be added if you already have a Lloyds Bank personal current account that has been opened for a minimum of 40 days.

    You can choose to have your interest paid annually or monthly.

     

  • No. This account has a fixed rate of interest so the rate won't change during the term.

     

  • For example, if you deposit £2000.00 when you open the account, after 24 months you will have a balance of £2159.04 after interest is paid.

    This assumes:

    • interest is paid every 12 months after you open the account
    • you make your deposit on the day you open the account
    • you don't add any more money.

     

  • This account can be opened and managed:

    • in branch
    • by phone.

    You can open this account if you:

    • are 16 or over
    • are a UK resident
    • have £2,000 or more to save.

    You can open it as a sole or joint account.

    You need to deposit at least £2,000 into the account within 10 days of it opening. You can make as many deposits as you like within these 10 days, up to a maximum of £1,000,000. After the 10 days are up, you can't make any further deposits.

     

  • 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, 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. 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, 52KB) before you start.

Over the phone

Call us on

0345 730 1400

Lines are open 9am – 6pm Monday – Saturday.

In branch

If you open an account in a branch, you’ll need to take proof of identity with you.

Have you thought about investing?

Our investment options could provide a higher return than saving. Choose from our investment accounts.

More about investing

Need expert advice on investments?

Our partner, Schroders Personal Wealth could help to choose the right investments for you. It all starts with a free chat so you can decide if it's what you need. Eligibility criteria applies. Fees and charges may apply if you decide to use our service.

Go to Wealth Management

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