Account nameClub Lloyds
Get £150 in 10 working days.
ProviderLloyds Bank
Account fee£3 per month (Account fee waived if account credit with at least £1500 per month)
Interest (AER)0.6%
ATM withdrawal limit£500
Debit networkVisa
Card typeCash / Debit
Minimum eligibility age18 Years
Mininum operating balance£1
Minimum opening balance£1
Direct debits
Current account switch guarantee
Cheque Book

Founded in 1765, Lloyds Bank is a British retail and commercial bank. It is part of Lloyds Banking Group which includes Halifax, Bank of Scotland and Scottish Widows.

Lloyds Bank offers a suite of financial products, including a range of current accounts.

What is the Club Lloyds current account?

The Club Lloyds current account works in the same way as a standard bank account, but lets you earn rewards and cashback as well as interest on balances up to £5,000. In return, you’ll need to meet certain conditions or pay a monthly fee of £3.

You can open the account individually or jointly and it comes with a contactless Visa debit card.

How does it work?

As well as being able to set up direct debits and standing orders, and apply for an arranged overdraft, the Club Lloyds current account offers the following features:

  • Monthly credit interest. Earn up to 1.50% AER on the part of your balance between £4,000 and £5,000, and 0.60% AER on balances between £1 and £3,999.99, providing you pay out 2 different direct debits each month.
  • Choose a reward each year. Choose from 6 x cinema tickets at ODEON or Vue cinemas, 1 x annual digital Gourmet Society membership, an annual magazine subscription or 12 x digital movie rentals.
  • Get up to 15% cashback. With Everyday Offers when you pay by credit card, debit card or direct debit with selected retailers.
  • Exclusive banking offers. Access to offers on a range of Lloyds Bank products such as mortgages and savings accounts.
  • Save the Change. Round up your card payments to the nearest pound to save as you spend.

Who is it for?

The Club Lloyds account suits anyone looking to gain a little extra from their everyday bank account. In return, you’ll need to pay at least £1,500 into your account each month or pay a fee of £3 a month. To earn interest, you’ll also need to pay out at least 2 different direct debits each month.

To be eligible to apply, you’ll need to be at least 18 years old, a UK resident and either an EU national or have permission to stay in the UK for at least 12 months.

What are the benefits?

One of the biggest benefits of the Club Lloyds account is that you can earn interest on your in-credit balance at a competitive rate. On top of this, the account offers a host of rewards and cashback offers.

How to apply

If you’re a new customer, the easiest way to apply for the Club Lloyds account is by filling in a form online. You should get a decision within 10 minutes. If you’re an existing customer, you can open a new current account or upgrade through Internet banking.

Alternatively, you can open an account by phone or by booking an appointment at your nearest Lloyds Bank branch.

Pros and cons of the account


  • Interest paid on balances up to £5,000
  • Arranged overdraft available
  • Selected rewards and cashback offers
  • Exclusive banking offers available


  • You’ll need to pay in at least £1,500 each month or pay £3 a month
  • You must pay out 2 direct debits each month to qualify for interest
  • Highest interest rate only paid on balances between £4,000 and £5,000
  • Overdraft rates are 27.5% EAR (£50 buffer)

Our verdict

The Club Lloyds current account is a competitive offering for anyone looking to get a little extra from their everyday bank account. Providing you can pay in at least £1,500 a month and pay out 2 direct debits, you’ll benefit from interest on your in-credit balance, plus various rewards and cashback – and you’ll avoid the monthly fee.

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