Regular Saver from Lloyds Bank
Protection
FSCS
Up to £120,000
Monthly limit
£250
Access
Instant
Interest paid
On maturity
You can only have either 1 Monthly Saver or Club Lloyds Monthly Saver account, held either in your sole name or jointly but not both.
Please verify all details with the provider – for more info read our Disclaimer
This account suits disciplined savers who want to build a habit rather than deposit a lump sum, since you can only put in between £25 and £250 a month and the 5.00% rate applies to a relatively modest pot. The genuine catch is that interest is paid only at the end of the twelve-month term, at which point the account converts to a Standard Saver, so you need to remember to open a new Monthly Saver if you want to continue at this rate. It is open to existing and new customers alike, which is worth noting as some rivals restrict these deals. Halifax and Bank of Scotland both offer their own equivalent accounts at the same 5.00% rate if you want to compare before committing.
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