Easy Saver 2012 - Terms and Conditions

These terms and conditions apply to the Lloyds TSB Easy Saver 2012 account (‘Account’), and explain our obligations to you and your obligations to us (Lloyds TSB Bank plc or Lloyds TSB Scotland plc). If your Account is with a branch in Scotland your agreement is with Lloyds TSB Scotland plc, otherwise your agreement is with Lloyds TSB Bank plc.

Our Personal Banking terms and conditions also apply to this Account and give you important information about your relationship with us. It covers things like:

• How long it takes for payments in and out of your account.
• How we use your personal information.
• How we can change our rates and charges or other terms.
• How we deal with things if there’s a problem.
• How we operate a joint account.

Before opening an account, we may take up references or otherwise satisfy ourselves of your identity and suitability as an Account holder.  We can refuse to open an Account or to accept a deposit without giving any reason.

Applying for an Account

• You can only apply to open an Easy Saver 2012 account from 22 September 2008 until 7 December 2008 (inclusive), unless we withdraw the account before this date.
• You must be a personal customer (16 or over) and resident in the UK.
• You can open your Account through one of our branches or Telephone Banking.  You may also be able to open your Account through Internet Banking.
• You can apply to open an Account with £1 (Minimum Opening Balance) or more. 
• If two or more of you apply for an Account then we will open it as a joint account.

Deposits
You can add money to your Account:

• At one of our branches (cash or cheque).
• By standing order.
• By post – you can send cheques (not cash) by post, but we are not responsible if we do not get the payment or if there is a difference between what you say you sent and what we receive.
• By instructing us to transfer money from another of your accounts with us in writing, by phone, or electronically.

Withdrawals

• You can request withdrawals at a branch, by phone or electronically.  The minimum amount you can withdraw is £1.
• The maximum amount you can move in or out of your Account in a single transfer online is limited. Contact us to find out what the current limits are, especially if you plan to make a large withdrawal.
• No withdrawals by Standing Order or Direct Debit are permitted on the Account.

Interest

• If the balance of your Account falls below £1 you will not receive interest. Interest will start to be paid again once your balance is restored above that limit.
• We will pay interest once a year.  Yearly interest is paid on the anniversary of Account opening.  If the interest payment date is not a working day, we will pay it on the next working day.
• We will pay interest by crediting it to your Account.
• You will find our current interest rates for the Account in our UK branches, online at www.lloydstsb.com or by phoning us on 0845 300 0032.

Interest Rate Guarantee

On balances of £1 or more we agree to pay a gross annual interest rate which tracks the Bank of England Base Rate as follows:

• At no lower than 0.50% below the Bank of England Base Rate for 12 months from the date you opened your account;
• At no lower than the Bank of England Base Rate for 12 months from the first anniversary of account opening;
• At least 0.50% above the Bank of England Base Rate for 12 months from the second anniversary of account opening;
• At least 1.00% above the Bank of England Base Rate for 12 months from the third anniversary of account opening;
• At no lower than 1.50% below the Bank of England Base Rate from the fourth anniversary of account opening until 31 December 2012.
• If we change the interest rate on your Account following a change in the Bank of England Base Rate, we will do this on the same day.
• When the interest rate guarantee period ends on 31 December 2012 we may change the interest rate at any time, subject to our Personal Banking terms and conditions.

Charges

• We do not make any charges for your Account.

Closing your account

• There is no minimum duration for this Account and you may close your Account at any time by writing to your branch or phoning us. Where you have not told us in writing we may require confirmation in writing.
• If you are not happy with your choice of Account we will help you switch to another of our accounts or we will give you all your money back with any interest it has earned.

Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Easy Saver 2012 account information

Easy Saver 2012 interest rates