LLOYDS BANK SAVINGS ACCOUNTSOnline Fixed Bond - 2 years

A fixed interest rate account for savers who are happy to put their money away for the two year term


Please read the summary box before applying

At a glance

Interest rate

Features and benefits

Keep in mind

Withdrawals

Access

0.55% gross/AER fixed for 24 months from account opening

  • Fixed interest rate gives peace of mind
  • Your interest is paid annually on the anniversary of the account opening
  • The minimum opening deposit is £2,000
  • You have to make your initial deposit within 10 days of opening the account
  • After 24 months the account will automatically change to a Standard Saver. See Standard Saver interest rates (pdf).
  • No withdrawals.
  • Withdrawals or early closure aren’t permitted during the term except in the event of the death of the account holder.
  • Online

0.55% gross/AER fixed for 24 months from account opening

Features and benefits

  • Fixed interest rate gives peace of mind
  • Your interest is paid annually on the anniversary of the account opening

Keep in mind

  • The minimum opening deposit is £2,000
  • You have to make your initial deposit within 10 days of opening the account
  • After 24 months the account will automatically change to a Standard Saver. See Standard Saver interest rates (pdf).

Withdrawals

  • No withdrawals.
  • Withdrawals or early closure aren’t permitted during the term except in the event of the death of the account holder.

Access

  • Online

Summary box for Online Fixed Bond - 2 years

1. What is the interest rate?

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

Amount depositedAnnual interest
Gross AER
£1+
0.55%
0.55%

  • Your interest is paid 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:

Initial depositGross rateBalance after 24 months
£2000.00
0.55%
£2022.06

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 online.

Opening this account

  • You must be 16 or over and resident in the UK
  • You can open this account in your sole name
  • 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?

Withdrawals or early closure aren’t permitted during the term except in the event of the death of the account holder.

After 24 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 Online Fixed Bond account

You can open an account with a lump sum of £2,000 or more. You'll need to be 16 or over and resident in the UK for tax purposes.

2 Year Online Fixed BondApply now

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

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