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Easy Saver

At a glance

  • Earn a variable rate of interest of 0.75% gross/AER variable. This rate includes a fixed introductory bonus of 0.55% for the first 12 months.
  • After 12 months the variable interest rate without bonus will apply, currently 0.20% gross/AER.
  • Instant access to your account online, by phone and in branch
  • Transfer your money instantly between your Easy Saver Account and Lloyds TSB current account

About the Easy Saver

Open your Easy Saver online with just £1 and enjoy instant access through our ATM network with our optional Cashpoint® card, and you can set up standing order payments into your account to help your savings grow.

Interest on the Easy Saver is paid annually.

Easy Saver with bonus

Balance
 Annual interest
Gross/AER variable % without bonus AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form. † Net % without bonus Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places. †
£1+ 0.75 0.60

These interest rates are correct as at 04/05/2013.

Interest rates are variable.

Easy Saver without bonus

Balance
 Annual interest
Gross/AER variable % without bonus AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form. † Net % without bonus Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places. †
£1+ 0.20 0.16

These interest rates are correct as at 04/05/2013.

† The gross and net rates shown include a fixed introductory bonus of 0.55%, payable for 12 months from the date of account opening. At the end of the bonus period, rates without bonus will apply. Please see the without bonus table for current rates.

  • Register to receive gross interest. You can have your interest paid gross if you are a non-tax payer and have completed an HM Revenue & Customs R85 form. Download the R85 from HM Revenue & Customs.
  • Save the Change® - Register for Save the Change® and every time you make a purchase with your Lloyds TSB Visa debit card, the amount you spent will be rounded up to the nearest pound. We’ll then transfer the difference into your nominated Lloyds TSB savings account the next working day.
  • Set up a standing order – saving regularly from your current account is the easy way to grow your savings.
  • Rename your account to suit you, such as holiday, rainy day or simply savings. All you need to do is click on your Easy Saver account in Internet Banking, then change nickname. The name you choose will only appear in Internet Banking and not on your statements.
  • Transfer money from a non Lloyds TSB account. Just complete our savings transfer form
  • You can take the form to our nearest branch. Find a branch near you.
  • Search your statements instantly and cut down on paperwork when you turn off paper statements.
Account name Easy Saver
Interest rates (AERs) Variable interest paid annually.

Easy Saver interest rates.
Tax status Interest is paid net of basic rate income tax.

If your non savings income is less than your personal allowance you may qualify for the 10% savings tax rate, we will still pay your interest net of tax (with income tax taken off - currently 20%). If you think that this may apply to you, you should complete HMRC form R40, available on HMRC website or your tax office.

If you are a non-tax payer and have completed an HMRC R85 form, you can receive your credit interest paid gross. You will need to complete this form for each account you hold. You can download the R85 form at HM Revenue & Customs.
Conditions for bonus payment Fixed bonus paid for first 12 months from date of account opening.
Withdrawal arrangements No notice period.
Instant access with no loss of interest.
Access For Lloyds TSB current account holders – web, phone, branch and optional Cashpoint® card.
For non-current account holders – phone and optional Cashpoint® card only.

If you have a Lloyds TSB current account and are registered for Internet Banking you can open an account online with as little as £1. If you don’t have a Lloyds TSB current account, you can still apply online by filling in the online form.

Apply in your local branch

Open an account with as little as £1 deposit.

Apply by phone

Whether you’re a new or existing customer, call us on Monday- Friday 7am-10pm and 8am-6pm at weekends.

0845 730 1400

We’ve already publicised the move of part of Lloyds Banking Group to TSB later this year. As a result of TSB becoming a separate bank, there will be some changes to your terms and Conditions. These changes will take effect after 14 August. We will be Publishing the effective date 7 days in advance. We are giving all our Customers details of the changes. If you have not already received these details, you will receive them in the post shortly. You will also be able to download the notice of these changes at lloydstsb.com, or ask in branch

Easy Saver terms and conditions

Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions leaflet) and additional conditions. These include the conditions below and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking terms and conditions, the additional conditions apply.

The Easy Saver Account is an instant access savings account with a variable interest rate. It is provided by Lloyds TSB Scotland plc or Lloyds TSB Bank plc. You will have been told which bank your account will be opened with.

1     ELIGIBILITY
1.1  To have the Account you must be 16 or over.

2     DEPOSITS AND WITHDRAWALS
2.1  You can pay money into the Account in branch, or by transferring money from
another account with us or another bank.
2.2.  You can make withdrawals from this Account at any of our branches but you can only make payments from the Account to another Lloyds TSB current or savings account in your name (or in the case of a joint account, in any of your names). You cannot set up standing orders on the Account to make these payments.
2.3  You can ask us for a Cashpoint® card to make deposits to and withdrawals from the Account.

3     INTEREST
3.1  The Account interest rate is variable.
3.2  We will pay interest once a year on the anniversary of opening the Account.
3.3  You can ask us to pay interest into a different account with us.
3.4  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.

4     COOLING OFF
4.1  If you are not happy with your choice of account or service, you can cancel it within 30 days of opening the account or taking the service. We will then help you to move to another account we offer or will return your money to you with any interest you have earned.

Important documents

You can download and read these important documents:

Personal banking terms and conditions leaflet

Banking Charges guide

Glossary

AER

AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts.

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.

Net rate

Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places.

Gross rate

Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form.

Tax free rate

Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Ways to apply

Existing customers

If you have a current account with us and you’re registered for Internet Banking, you can open an account in just a few clicks.

Log on and apply Log on and apply for an Easy Saver account

    New customers

    Don’t have a Lloyds TSB current account? You can still apply online for an Easy Saver Account – just fill in the online form.

    ApplyApply now for an Easy Saver account

      Apply by phone

      New and existing customers

      0845 730 1400

      7am-10pm Mon – Fri, 8am – 6pm weekends

        Apply at your local branch

        Ask a question

        For answers to common queries please use our help centre.

        Help centreOpens in a new browser window.

          Why not try…

          ...tax-free saving? With an ISA you won’t pay any tax on the interest your savings earn.

          See our ISAsFind out more about our ISAs

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          We have a wide range of savings accounts to help you reach your goals.

           

           

          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.

          If your non savings income is less than your personal allowance you may qualify for the 10% savings tax rate, we will still pay your interest net of tax (with income tax taken off - currently 20%). If you think that this may apply to you, you should complete HMRC form R40, available on HMRC website or your tax office.

          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.

          Cashpoint®, PhoneBank® and Save the Change® are registered trademarks of Lloyds TSB Bank plc.
          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. Lines are open Monday to Friday 7am to 10pm and 8am to 6pm at weekends.