Lloyds current accounts for January 2021

Take a look at Lloyds' full range of current accounts – some of which even pay interest on your balance.

Updated

Fact checked
Lloyds Bank
We say
★★★★★
Finder expert rating
You say
★★★★★
Customer satisfaction
Pretty good mobile experience
Not the best in any field, fairly standard experience
Data indicated here is updated regularly
Name Product Ratings Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0%
N/A
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0.5%
N/A
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0.5%
N/A
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£21 per month
No minimum funding requirement
0%
N/A
Free.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£3 per month (Account fee waived if account credit with at least £1500 per month).
No minimum funding requirement
0.6%
N/A
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£3 per month (Account fee waived if account credit with at least £1500 per month). £21 per month
No minimum funding requirement
0.6%
N/A
Free.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
Lloyds Bank
We say
★★★★★
★★★★★
You say
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
loading

Compare up to 4 providers

A Lloyds current account comes with all the pros you can expect from a major UK bank: a well-organised network of branches, all kinds of related financial products, customer service and top-level security.

It was also “highly commended” in Finder’s Banking Customer Satisfaction Awards, for the “high street bank” category, which means that a good chunk of its current account customers are happy with it and would recommend it to a friend.

Starling Bank

Starling Bank: award-winning banking on your mobile

  • No monthly fees or fees overseas
  • Apply in minutes, direct from the app
  • Winner 2020 - Best Current Account, British Bank Awards
Promoted

Types of current accounts from Lloyds

Here’s a list of the types of current accounts that Lloyds has to offer. As you can imagine, there’s one for every need, from children who are just starting their personal finance journey to fully established professionals.

  • Reward and incentive accounts

    With Club Lloyds, you get a 1.50% annual interest rate on balances up to £5,000. If you pay in at least £1,500 a month, there’s no monthly fee. However, if you’d rather get a more straightforward cash reward directly when you switch, you can compare incentive account options on Finder.
    Learn more about reward and incentive accounts

  • Premium accounts

    Unlike most premium accounts, Lloyds’ Platinum account doesn’t have strict eligibility criteria. Most people can get it, but it does cost £19 a month in return for a full range of insurance benefits.
    Learn more about premium current accounts

  • Student accounts

    Lloyds’ student account is a solid option that offers up to a £1,500 fee-free overdraft to make your tight budget a bit more flexible. However, it offers no extra benefits, so you may want to compare alternatives to see if you can secure a free railcard or an Amazon Prime membership too.
    Learn more about student accounts

  • Children’s accounts

    Lloyds’ children’s account treats your kids with a little interest rate on their balance, and is an effective tool to teach them how to manage their money, starting from when they’re as young as 11.
    Learn more about children’s accounts

The benefits of banking with Lloyds

  • Rewards. Aside from paying interest on balances, Lloyds also has a decent rewards programme that lets you earn cashback when you shop at selected retailers. All current account holders can register for it.
  • Multiple ways to bank. As is usual with big banks, with Lloyds you can stay on top of your current account using the mobile app, online, on the phone or in person.
  • Mobile banking app. It’s a straightforward and clean app, although it doesn’t come with loads of features. But Lloyds is gradually improving it – push notifications have just been added.
  • Global acceptance. Lloyds debit cards are on the Visa network, so you don’t have to worry about acceptance, even if you go abroad.
  • Round the clock assistance. Lloyds’ customer service phone line is open 24/7, so there is always someone available to help you deal with whatever emergency you’re having – even at 3 am.
  • A full range of financial products. Mortgages, loans, credit cards, you name it. If you prefer concentrating all your banking stuff in the same financial institution, a big bank is a smart choice that will give you many different products to choose among.

Opening an account with Lloyds

To open an account with Lloyds, you’ll have to provide the following information:

  • How much you expect to pay in each month
  • Your employment status
  • Your salary details and any assets you have
  • Your nationality/citizenship
  • Your residency status/tax residence status
  • Proof of identity (passport, driver’s licence)

You can open a Lloyds account online or by visiting a branch.

Why should I compare current accounts anyway?

How often do you pay your bills, do your grocery shopping, tap your card to enter the tube, buy a pint? Each time you do one of these things, you are in fact using your current account. Since you rely on it so often, you may as well spend some time picking an account that works well for you.

Moreover, current accounts aren’t all the same. Some offer juicy rewards, others are especially convenient if you travel a lot. Compare options and hopefully, you’ll find one that fits you and your needs.

Our verdict

Lloyds Bank offers a great reward system with its current accounts. If you want to earn rewards for spending, these accounts could suit you well.

Frequently asked questions

Back to top

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

  • Business bank accounts for non-UK residents

    We’ve put together some tips and information on how to open a business bank account in the UK as a non-resident.

  • Business bank accounts for contractors

    Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.

  • Business bank accounts with overdrafts

    Business overdrafts can be a useful safety net, but be aware of fees and charges.

  • Hyundai i40 insurance group

    Find out which insurance group the Hyundai i40 falls under and how much it costs to insure.

  • Revolut Plus review

    Revolut Plus is the latest current account to be offered by digital banking brand Revolut – we take a look at its features and fees.

  • Audi Q2 insurance group

    Find out how much it costs to insure an Audi Q2 based on your age and location.

  • Hyundai ix35 insurance group

    Find out the average cost of car insurance for the Hyundai ix35.

  • Car insurance for over 80s

    Learn about over 80s car insurance, including what’s covered, how your health affects premiums and how to get the best policy for your needs.

  • Bank accounts for charities

    Opening a bank account is one of the very first things you need to do when setting up a charity. Here we look at how to go about finding the right account, from comparing different options to saving on fees.

  • How to set up a charity

    Registering your business as a charity is a pretty admin-intensive process. Here we cover the basic steps, from recruiting trustees to opening a bank account and registering with the Charity Commission.

    Go to site