Lloyds Bank savings accounts

Lloyds Bank offers a range of financial products which includes investments, credit cards, loans, insurance, mortgages and current accounts.

Under its savings banner, the bank also offers a range of options such as ISAs, fixed rate bonds, regular savings and easy access accounts, which can offer competitive rates both online and offline. However, if you are planning on opening a Lloyds account, remember to compare the rates available with the wider savings market first.

Compare Lloyds Bank savings accounts - Ordered by interest rate (AER)

  1. Great for
    Investments up to £5,000,000
    But be aware that
    Withdrawals are not permitted within the fixed term

Lloyds Bank Savings Guide

Which savings account you pick depends on your circumstances. If you need to get hold of your cash then an easy access account will be the most suitable. This allows you to dip into your savings when needed, rather than tying up for cash for a specific period, and top up your balance when you like.

Alternatively, you could benefit from a higher rate by opting for a fixed-rate savings account. This will give you the security of a certain rate over a period of, for example, a year, but will restrict access to your cash.

For any UK taxpayer, the first port of call for savings should be a cash ISA, paying tax-free interest on balances. However, these come with rules including how much you can put in these accounts each tax year.

When choosing a Lloyds Bank savings account, make sure to select the best one for your circumstances.

The first £85,000 of any savings held with Lloyds Bank is protected by the Financial Services Compensation Scheme (FSCS). Remember that this protection applies per bank, not per banking institution. However, while HBOS comes under the Lloyds Banking Group umbrella, it comes under a separate license, so any savings with HBOS brands will be protected separately up to £85,000 per person.

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