If you have a Club Lloyds Saver, Club Lloyds Monthly Saver, Easy Saver, Fixed Bond, Monthly Saver, Online Fixed Bond or a Lend a Hand account, it will change into this account at the end of its term.
Summary box for the Standard Saver
Earn 0.01% gross/AER variable interest on balances of £1 or more.
Your interest frequency will stay the same.
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, 85KB) 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 £1,000.00 when you open the account, after 12 months you will have a balance of £1,000.10 after interest is paid.
- 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.
How the account is opened
If you have a Club Lloyds Saver, Club Lloyds Monthly Saver, Easy Saver, Fixed Bond, Monthly Saver, Online Fixed Bond or a Lend a Hand account, it will change into this account at the end of its term if you don’t give us other instructions. We will contact you before this happens to let you know your options.
This account is not available to any other customers.
Your sort code and account number will stay the same.
Managing the account
This account can be managed:
- on our app
- in branch
- by phone.
You can withdraw money from this account and there are no charges for doing so.
You can close your account at any time.
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.