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eSavings

At a glance

  • 1.00% gross/AER variable on balances of £10,000+.
  • 0.80% gross/AER variable from £1 to £9,999.
  • Open in moments with just £1
  • Fixed 12 month introductory bonus
  • Interest is paid annually
  • Grow your money with instant transfers between your eSavings account and Lloyds TSB current account

About the eSavings account

Earn a variable rate of 1.00% gross/AER variable on balances of £10,000 or more or 0.80% gross/AER variable from £1 to £9,999

Rates include a fixed introductory bonus of 0.80% on balances of £10,000 or more or 0.60% on balances of £1 to £9,999, payable for the first 12 months from the date you open your account. After 12 months the variable interest rate without bonus will apply, this is currently 0.20% gross/AER.

Enjoy instant access to your savings through Internet Banking

To apply for our eSavings account, you need to have a Lloyds TSB current account.

eSavings account with bonus

See the table below for the eSavings account interest rates with bonus:

Balance Annual interest
Gross/AER variable % including 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 % including 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.†
£10,000+ 1.00 0.80
£1+ 0.80
 0.64

These interest rates are correct as at 08/05/2013.

† The gross and net rates shown include a fixed introductory bonus of 0.80% on balances of £10,000 or more, or 0.60% on balances of £1 to £9,999, 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.

Interest rates are variable.

See previous rates.

eSavings account without bonus

The table below gives a summary of the eSavings account interest rates 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.
£10,000+ 0.20 0.16
£1+ 0.20 0.16

These interest rates are correct as at 08/05/2013.

Interest rates are variable.

See previous rates.

Services with the eSavings account

  • Register to receive gross interest. You can have your interest paid gross if you’re a non-tax payer and have completed an HMRC R85 form. Download the R85 from HMRC
  • 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 eSavings 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 transfers 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

eSavings account summary box

The table below gives a summary of the eSavings account:

Interest rates (AERs) Variable interest with a 12 month fixed bonus.

Interest is paid annually.

eSavings Account 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 for first 12 months from date of account opening.
Withdrawal arrangements No notice period.
Instant access with no loss of interest.
Access Web only

You need to be over 16, have a current account with Lloyds TSB and be registered for Internet Banking to apply.

Not registered for Internet Banking?

Apply nowApply for an eSavings account
10mins

Registered for Internet Banking?

Log on and applyLog on and apply for our eSavings Account
2mins
Want to switch your current account to Lloyds TSB?

Our dedicated team will help take the stress out of switching.

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.

eSavings account 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 eSavings Account is an internet-based instant access savings account with variable interest rates. It is provided by Lloyds TSB Bank plc or Lloyds TSB Scotland plc, depending on which bank your current account is with.

  1. Eligibility
    1.1 To have the Account you must be 16 or over, and have a current account with us.
    1.2 You can only open the Account through Internet Banking and you can only have one Account in either your sole name or held jointly.
    1.3 If you are no longer entitled to the Account we will make arrangements with you to close your Account and transfer your balance to another account in our savings range.
  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 only make payments from this account using Telephone Banking or Internet Banking and the payment must be to a Lloyds TSB current or savings account in your name (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.
  3. Interest
    3.1 The Account interest rates are variable and will vary depending on the amount in the Account.
    3.2  You can find the current interest rates for the account in Interest rates, in our branches or by phoning us on 0845 300 0032.
    3.3 We will pay interest once a year on the anniversary of opening the Account.
    3.4 You can ask us to pay interest into a different account with us.
  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

Online

You can open an eSavings account online in moments. You need to have a Lloyds TSB current account.

Ask a question

For answers to common queries please use our help centre.

Help centreOpens in a new browser window.

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      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.

      AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each 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 rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

      Tax-free is the contractual rate of interest payable where interest is exempt from income tax. Tax treatment depends on your individual circumstances and may change.
      Net rate is the rate payable after the deduction of lower rate tax (which may be reclaimed by non-taxpayers on completion of an Inland Revenue R85 form). As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places.

      * Accounts opened will receive an introductory bonus of 1.50% AER, payable for 12 months from the date of account opening.

      ** PhoneBank® is a registered trademark 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.

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