A fixed interest rate account for savers who are happy to put their money away for the two year term.
Earn 0.20% gross/AER fixed interest on balances of £1 or more for two years from account opening.
Your interest is paid every 12 months after you open the account.
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 £2008.00 after interest is paid.
This assumes:
This account can be opened and managed:
Bear in mind:
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.
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.
You can also open an account by calling us on 0345 300 0000. Our lines are open Monday to Sunday from 7am to 11pm. Or, visit us in branch.
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
