Exclusive Saver account

Exclusive Saver Account Terms and Conditions

1. In these conditions:
Current Account means a Select, Silver, Gold Service, Platinum, Premier or Graduate Gold current account, including Plus versions; and
AVA Saver means a Select, Gold, Platinum or Premier Saver; and
Linked means a Current Account linked to one or more AVA Savers, for example a Select Account linked to one or more Select Savers.

2. 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.

3. The Personal Banking terms and conditions apply to your Exclusive Saver.

4. To qualify for an Exclusive Saver you will need:
• £250 (the ‘Minimum Opening Balance’) or more and
• a Current Account.

5. You can have one Exclusive Saver, whether in your sole name or joint names, for each Current Account that you have.

6. We will convert your existing Linked AVA Saver(s) into an Exclusive Saver.

7. Before opening an account, we may take up references or otherwise satisfy ourselves of your identity and suitability to be an account holder.

8. If your Current Account is closed, you will not be entitled to an Exclusive Saver. In these circumstances we may close your Exclusive Saver and transfer your balance to another account in our savings range.

9. We display current rates of interest paid on the Exclusive Saver in our UK Branches.

10. If your account has a balance below the Minimum Opening Balance, other than a balance of less than £1, it will earn interest at the fixed rate of 0.10% p.a. AER/Gross, 0.08% p.a. Net.

11. We will pay interest once a year unless you choose to receive it monthly when you complete the account application. Annual interest is paid on the anniversary of account opening; monthly interest is paid on the same date each month as the date of account opening. If the interest payment date is not a working day, interest will be paid on the next working day.

12. We will credit interest to the account nominated by you.

13. No debits by Standing Order or Direct Debit are permitted on the account.

14. If you are not happy about your choice of savings 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.

AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once every year.  As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

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

Net – is the rate of interest which would be payable after allowing for the deduction of income tax at the rate specified by law.

Get an overview of the Exclusive saver account.