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)

    • Provider/Product name Young Saver

      Lloyds Bank

      Young Saver

    • Interest rate (AER) 2.00% Variable
    • Min/Max opening amount £1 to £20,000
    • Notice / Term Notice Period: instant
    • Account type Children’s Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Young Saver

      Lloyds Bank

      Young Saver

    • Interest rate (AER) 0.25% Variable
    • Min/Max opening amount £20,001 to £ no limit
    • Notice / Term Notice Period: instant
    • Account type Children’s Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Easy Saver

      Lloyds Bank

      Easy Saver

    • Interest rate (AER) 0.10% Variable
    • Min/Max opening amount £1 to £ no limit
    • Notice / Term Notice Period: instant
    • Account type Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Monthly Saver

      Lloyds Bank

      Monthly Saver

    • Interest rate (AER) 2.00% Fixed
    • Min/Max opening amount £25 to £3,000
    • Notice / Term Term: 12 month bond
    • Account type Regular Saver Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Cash ISA Saver

      Lloyds Bank

      Cash ISA Saver

    • Interest rate (AER) 0.35% Variable Includes Fixed bonus of 0.30% for 12 months
    • Min/Max opening amount £1 to £ no limit
    • Notice / Term Notice Period: instant
    • Account type Cash ISA Transfer In
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    Great for
    Transferring existing ISA balances
    But be aware that
    Rate includes a bonus, after 12 months the rate will drop to 0.25%

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.

Thanks to the Personal Savings Allowance, savings interest is now paid without any deduction of tax. If you are a standard rate (20%) taxpayer, you can earn up to £1,000 in savings interest tax-free each year. Higher rate (40%) taxpayers can earn up to £500 a year in savings interest without paying tax.

Those on the additional rate (45%) do not benefit from a Personal Savings Allowance and must pay tax on savings interest.

In addition to this tax-free allowance, you can save tax-free in an individual savings account, where every adult has an annual allowance tied to the tax year, which ends each year on April 5 (in 2016/17, the ISA allowance is £15,240).

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

The first £85,000 (as of 30 January, 2017) of any savings held with Lloyds Bank is protected by the Financial Services Compensation Scheme (FSCS). 

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