Lloyds savings accounts

Find out more about the savings accounts offered by Lloyds.

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Lloyds Bank

Lloyds Bank was founded over 250 years ago in Birmingham, England. Today, the Lloyds banking group is part of the “big four” banks in the UK and it has branches across England and Wales.

It offers an array of savings accounts for all types of savers. We look at Lloyds’ different options in detail and explain which account might be best for you.


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What saving options does Lloyds offer?

  1. Instant access
  2. Fixed-term
  3. ISAs
  4. Junior savings

What is a cash ISA?

A cash ISA is a savings account where you don’t pay tax on the interest you earn. There’s a limit on the amount you can deposit into ISAs each year, which is set by the government.

Instant access

  • It has several instant access accounts to choose from.
  • Unlimited deposits and withdrawals.
  • Open with as little as £1.
  • Or pay in a minimum of £25 a month with a monthly saver.
  • Manage these accounts online, over the phone or in a branch.

Fixed-term savers

  • Typically offer better interest rates than instant access.
  • No withdrawals allowed.
  • Open with a minimum deposit of £2,000.
  • Interest paid yearly or monthly.
  • Choose the online fixed-term saver and manage the account online.
  • Or choose the standard fixed-term saver and manage it in a branch or over the phone.


  • Lloyds offers a few different ISA options: the Help to Buy ISA, the Cash ISA Saver and the 2 Year Fixed Rate ISA.
  • Open with as little as £1.
  • Offers both instant access and fixed term.
  • You can withdraw early with the fixed term option but charges apply.
  • Manage all the ISAs online, in a branch or over the phone.
  • With the Help to Buy ISA, you could qualify for a government bonus of up to £3,000 to help you buy your first property.

Children’s savings

  • Two options available: the Junior ISA or the Child Saver.
  • Open both accounts with as little as £1.
  • You can only manage the Junior ISA in a branch.
  • The Child Saver you can manage online, in a branch or over the phone.

How do I decide which account is for me?

Firstly, you need to decide what you’re looking for in a savings account. How often are you planning to draw out money? How much money can you afford to save each month?

You need to work out what you need before comparing the different offers available for certain types of savings accounts. Once you have done that, it’s useful to look at:

  • Interest rates
  • Fees (If there are any.)
  • Access to cash (If you need quick access, for instance.)
  • Rewards and loyalty schemes (If you’re into add-ons or switching bonuses.)

How to open a Lloyds savings account

  • With all Lloyds’ savings accounts you must be 16 or older.
  • You must also be a resident in the UK for tax purposes.
  • Most of the accounts discussed can be opened at a branch, online or over the phone.
  • With the exception of the Fixed Bond and the Junior savers.

Does Lloyds offer online or mobile banking?

Yes, Lloyds offers online and mobile banking services, so you can bank with ease wherever you are. Well, at least somewhere with Internet connection.

What are the pros and cons of banking with Lloyds?


  • Online banking. With most of Lloyds’ savers you can access your account online. Lloyds offers a mobile app too.
  • Flexibility. Lloyds offers several savings account options, so there’s bound to be one suited to your needs.


  • Better rates elsewhere? While Lloyds does offer competitive interest rates you can get better elsewhere. They’re certainly not market leading.


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