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Classic Account

Classic Account at a glance

  • Free banking when you’re in credit
  • Earn monthly interest on your balance - 1.50% AER/ 1.49% GROSS variable on balances from £1 to £999.99. Up to 3.00% AER/ 2.96% GROSS variable on balances of £3,000 to £5,000. Just add Vantage to your account for free
  • Easy banking on the move with our Mobile Banking App
  • Get a Lloyds TSB Visa debit card to use online, and in more than 500,000 places in the UK and 27 million places worldwide
  • Manage your money 24/7 with Internet Banking, PhoneBank® and Mobile Banking 
  • Take charge of your money and opt out of unplanned overdrafts by adding Control for £10 a month
  • £25 interest-free planned overdraft*. (Subject to application and approval).

What you get with your Classic Account

  • Free banking – no charge for everyday transactions when you’re in credit.
  • A Lloyds TSB Visa debit card you can use online and in over 500,000 places in the UK and 27 million places worldwide.
  • Quick, easy ways to manage your money 24 hours a day, 7 days a week with Internet Banking, PhoneBank® and Mobile Banking.
  • The chance to earn monthly interest on your balance – 1.50% AER/ 1.49% GROSS variable on balances from £1 to £999.99 and up to 3.00% AER/ 2.96% GROSS variable on balances of £3,000 to £5,000. Just add Vantage to your account.
  • A way to keep track of your money across your Lloyds TSB personal current and credit card accounts with our free Internet Banking service, Money Manager.
  • A £10 overdraft buffer. No overdraft fees or interest to pay if you go overdrawn (either planned or unplanned) by £10 or less.
  • A grace period if you go over your limit. You have until 3.30pm (UK Time) to pay in enough money to avoid any overdraft fees that day. Find out about overdrafts.
  • Easy switching – we can help move Direct Debits and standing orders from your existing accounts to your Lloyds TSB current account. See how to switch.
  • Access to one of the biggest banking networks in the UK with over 1,800 branches and 63,000 LINK cash machines. (You may be charged for using non-Lloyds TSB machines).
  • £25 interest-free planned overdraft*. (Subject to application and approval).

Not sure the Classic Account is right for you?

When you add Vantage to your Classic Account you can earn:

  • 1.50% AER / 1.49% GROSS variable on balances from £1 +
  • 2.00% AER / 1.98% GROSS variable on balances from £1,000 +
  • Up to 3.00% AER / 2.96% GROSS variable on balances up to £5,000.


Interest is paid monthly. All you have to do is stay in credit during the monthly billing period, and pay in at least £1,000 – your salary, for example – each calendar month.

Interest won’t be paid in any month that you don’t meet the conditions. We don’t pay interest on balances over £5,000.

Classic Account with Vantage

Balance Interest paid monthly
  AER % Gross % Net %
£1+ 1.50 1.49 1.19
£1,000+ 2.00 1.98 1.59
£3,000 up to £5,000 3.00 2.96 2.37

These interest rates are correct as at 27/06/2011.

Add Vantage and earn interest

Things you should know

  • Interest rates are variable.
  • You can have a total of three accounts with Vantage.
  • Interest rates apply to your whole balance. For example, if you have £4,000 in your account you will receive an interest rate of 3.00% AER on your entire balance.

Overdrafts

Manage your money with a Planned Overdraft. We offer them on most accounts.

Save The Change®

Put away the pennies every time you spend.

Debit cards

Use your card in over 500,000 UK locations and 27 million places worldwide.

Money Manager

Keep track of your spending and see at a glance where your money goes with our free Internet Banking service.

Let us take the stress out of changing banks

Whether you want to move to Lloyds TSB or you already bank with us and want to open a new Classic account, switching is easy. Our dedicated welcome team will do everything they can to help your switch run smoothly, including transferring all your Direct Debits and standing orders to your new account for you.

We will:

  • contact your other bank for a list of your Direct Debits and standing orders
  • tell you when your transfer is due to complete
  • set up your standing orders and ask your service providers to start claiming your Direct Debits from your Lloyds TSB account after your transfer date
  • keep you informed of how your switch is progressing and let you know what you need to do and when
  • arrange an interest and fee-free Planned Overdraft for 3 months (subject to application and approval) *

Apply online

Just fill in our simple online application form. It takes about 10 minutes and you’ll need to have a few bits of information to hand.

Apply online Apply online for the Classic Account
10mins
Apply with VantageApply online for the Classic Account with Vantage
10mins

On the Phone

0800 015 4000

Lines are open Monday - Friday 8am - 10pm, Saturday and Sunday 8am - 6pm.

In branch

Staff in our branches will be happy to help.

When you apply you will need proof of your identity and your address.

Apply online

Applying online is easy.

Log on and apply Log on and apply for the Classic Account
10mins

If you’re not registered for Internet Banking

Register now Register for Internet Banking
10mins

Upgrade now

Classic Account customers can upgrade to our Added Value Accounts online if you are registered for Internet Banking.

Upgrade nowUpgrade now
10mins

Adding Vantage to your account

Already got a Classic Account? Add Vantage and you can earn interest on your money.

If you’re already registered for Internet Banking

Log on and apply Log on and apply to add Vantage to your Classic Account
10mins

If you’re not registered for Internet Banking

Register now Register now for Internet Banking
10mins

By phone

0800 015 4000

Lines are open Monday-Friday 8am-10pm

Saturday and Sunday 8am-6pm.

In branch

Staff in our branches will be happy to help.

Find your nearest branch

Glossary

Account balance

The amount of money you have in your account at a particular time. Sometimes a balance will include payments that have been made to your account, but are not yet available because they haven’t cleared. This means that the money has not been received by the bank and is not available to spend. The money which has cleared and that you can spend is sometimes called your available funds or available balance.

Added Value Account

An Added Value account is a current account that offers a package of additional benefits at a discounted price for a monthly fee. These typically include annual travel insurance, AA Breakdown Cover, mobile phone insurance, card protection, overdraft benefits and savings on holidays.

AER

AER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily.

EAR

EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.

Ways to apply

New customers

If you’re new to Lloyds TSB, just fill in our simple online application form.

Apply online now Apply for the Classic Account online now
10mins

    Apply for a Classic Account with Vantage.

    Apply with Vantage Apply online now for a Classic Account with Vantage
    10mins

      Existing customers

      As a Classic Account customer you can apply to upgrade to one of our Added Value Accounts online if you are registered for Internet Banking.

      UpgradeUpgrade now for a Classic Account with Vantage
      10mins

        Opening an additional account
        You can apply for an additional Classic Account online through Internet Banking, perfect for budgeting or making into a joint account.

        ApplyUpgrade your Classic Account with Vantage
        2mins

          In branch

          Existing customers wanting to downgrade will need to call or go in-branch.

          On the phone

          0800 015 0162
          Mon-Fri: 8am-10pm, Sat & Sun: 8am-6pm

            Why not try…

            Classic Account customers can apply to upgrade to our Silver Account. Our Silver Account offers a great package of benefits including breakdown cover and travel insurance.

            Important legal information

             

            Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority except for lending where we are licensed by The Office of Fair Trading. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service. We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

            Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds TSB Scotland plc. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC95237.

            Account opening is subject to our assessment of your circumstances. You must be 18 or over to apply.

            Interest paid monthly. AER (Annual Equivalent Rate) – the rate if interest was paid and compounded once a year. Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

            Calls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service.

            PhoneBank® is a registered trademark of Lloyds TSB Bank plc.

            Save the Change® is a registered trademark of Lloyds TSB Bank plc.

            Money Manager is provided to help you manage your personal finances and is not intended to provide legal, tax or financial advice. You must be registered for Internet Banking.

            You need to register for Internet Banking, PhoneBank® and Mobile Banking. Terms and conditions apply.

            *Account opening is subject to our assessment of your circumstances. You must be 18 or over. Overdrafts are repayable in full on demand. View Planned Overdraft borrowing interest rates. To be eligible for the interest and fee free offer you must be accepted for a Planned Overdraft on your Lloyds TSB account, have not had the offer in the last 12 months on your account, and complete a switcher application to switch your account to Lloyds TSB.

            ** We don't charge you to use Mobile Banking, but your mobile operator may charge for some services, so please check this with them.