Lloyds Bank

Who they are

Lloyds Bank began life as Taylors & Lloyds in 1765 as Birmingham's first bank. Through a series of mergers, Lloyds became one of the Big Four banks in the UK. In January 2009, Lloyds completed a takeover of Halifax Bank of Scotland (HBOS) PLC, creating Lloyds Banking Group. Today it is one of the most recognisable names on the UK high street, operating branches nationwide alongside a well-established app and online banking service.

From a savings perspective, the key thing to know is that Lloyds Bank plc holds its own banking licence, separate from Halifax and Bank of Scotland - even though all three sit within the same group. That matters for FSCS purposes, as deposits with Lloyds are protected independently from any money you hold with those sister brands.

Savings accounts

Lloyds keeps most of its savings range within the "Club Lloyds" umbrella, which requires you to hold a Club Lloyds or Lloyds Premier current account. If you are already a Club Lloyds customer, the standout product is the Club Lloyds Monthly Saver, a fixed regular saver currently paying 6.25% AER. You can save from £25 a month, and crucially, the monthly cap is higher than many competitors - which matters more than the headline rate suggests, because the real interest you earn depends on how much you can feed in each month.

Non-Club members have access to the standard Monthly Saver at 5.00% AER fixed, also with a £25 minimum. For easy access, the Limited Access Saver and the Club Lloyds Advantage Saver both sit at 3.00% variable, though the Limited Access account restricts the number of withdrawals you can make. The Club Lloyds Saver and Easy Saver both pay considerably less at 1.20% and 0.75% respectively - worth knowing if you are not paying attention to where your money has drifted.

For fixed-rate savers, the Online Fixed Bond and Fixed Rate Cash ISA both run over one and two years. The one-year versions currently pay 4.00% AER (with a minimum of £500), and the two-year versions pay 4.10% AER. Holders of a Lloyds Premier current account that has been open for at least 8 days can earn an extra 0.20% AER on the one-year Fixed Bond and Fixed Rate Cash ISA - worth factoring in if you qualify.

The Cash ISA range also includes an instant-access Club Lloyds Advantage ISA Saver at 3.00% variable, and a standard Cash ISA Saver at just 0.75% - a reminder to always check where your money is sitting.

For children, Lloyds offers a Junior Cash ISA at 2.35% variable (locked until age 18), plus the Child Saver, Smart Start and a general Savings Account, all currently at 2.25% variable. The market-leading rate for junior products is meaningfully higher than this elsewhere, so it is worth shopping around if this is a priority.

All savings accounts listed here carry FSCS protection of up to £120,000 per person under Lloyds Bank's banking licence.

Switching to Lloyds

Lloyds is currently running a £200 cash switching bonus across four of its current accounts: Club Lloyds (£3/month fee, waived if you pay in £2,000+ per month), Club Lloyds Silver (£11.50/month), Club Lloyds Platinum (£22.50/month), and Lloyds Premier (£15/month). The process uses the Current Account Switch Service.

To qualify for any of these offers, you need to open the relevant account between 17 September and 9 December 2026, start a full CASS switch by 9 December 2026, and transfer at least 3 active Direct Debits from your old account. Direct Debits set up after the switch has started do not count, and neither do standing orders or recurring card payments - so check your existing Direct Debits before you apply.

The Club Lloyds accounts (including Silver and Platinum) also unlock access to linked savings products at rates shown on this page. The Lloyds Premier account comes with 1% cashback on eligible debit card purchases, capped at £10 a month, as well as a rate uplift on the one-year fixed products if the account has been open for at least 8 days.

One thing to note: the Club Lloyds Monthly Saver rate available through the switch offer is shown separately in our live data and may differ from the standard product rate, so check the current figure on this page before deciding.

Is it right for you?

Lloyds suits savers who want a single, familiar institution to do most of their banking in one place. The Club Lloyds Monthly Saver is a genuine highlight - especially if you can maximise the monthly deposit allowance - and the fixed bonds are competitive for a high street name. The weaker spots are the variable easy access rates outside the Club Lloyds tier, which lag well behind what challenger banks and building societies currently offer.

If you are primarily after the best possible rate on an easy access or instant-access ISA, the market-beating options are likely elsewhere. But if you value branch access, a trusted brand, and the convenience of a linked current account unlocking better savings rates, Lloyds is a solid, dependable choice.

Check the live rates shown on this page before you apply - rates on variable products in particular can move without much notice.