Two Year Fixed Rate Cash ISA

These interest rates are correct as at 01/05/2013.

These rates are fixed on account opening. We may change the rate so please check before opening.

No notice period. We don’t encourage withdrawals on this account. Though they are possible, any withdrawals within the fixed period are subject to a charge the equivalent of 180 days tax free interest on the amount withdrawn. This means you might get back less than you originally deposited.

If you want to transfer an existing cash ISA to us, you need to use our online ISA transfer form.

Once we receive your completed form, we’ll ask your current provider to transfer the money to us. If your ISA is ready to move to us, we’ll pay interest at your new rate from the day we receive your completed transfer application. If there is a notice period or a restriction on your old ISA that means it can’t be transferred straight away, we’ll pay interest from the day we receive the money from your old provider.

You can apply for a 2 Year Fixed Rate Cash ISA saver if you are:

• 16 or over.
• Resident and ordinarily resident in the UK for tax purposes

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

LLOYDS TSB FIXED RATE CASH ISA CONDITIONS
Our agreement with you is made up of general conditions (contained in the Personal banking terms and conditions) and additional conditions. These include the conditions below (the Lloyds TSB Fixed Rate Cash ISA and Lloyds TSB variable cash ISA conditions) and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the general conditions, the additional conditions apply.

The Lloyds TSB Fixed Rate Cash ISA (FRISA) conditions apply from the opening of your FRISA to the end of the 2 year fixed interest rate period which you have agreed with us.  Our variable cash ISA conditions will apply at the end of the 2 year fixed interest rate period - please see condition 6.1.

The FRISA has a fixed interest rate, and is a restricted savings account, as you can only pay in the yearly cash ISA allowance set by HM Treasury and there are restrictions on withdrawal during the fixed interest rate period. It is provided by Lloyds TSB Scotland plc if you open it in a Lloyds TSB Scotland plc branch or you have a current account with Lloyds TSB Scotland plc, otherwise it is provided by Lloyds TSB Bank plc. Both banks have been approved as ISA managers by HMRC.

1. ELIGIBILITY
   1.1 To have a FRISA, you must be at least 16 years old and either (a) resident and ordinarily resident in the United Kingdom for tax purposes or (b) subject to United Kingdom tax under Section 28 of the Income Tax (Earnings and Pensions) Act 2003, or married to, or in a civil partnership with, such a person. You must inform us if these conditions no longer apply to you.
   1.2 The FRISA must be in your sole name and all funds deposited in it must belong to you.
   1.3 You must not pay into more than one cash ISA in any one tax year.
   1.4 HMRC ISA Regulations state that if you do not make a deposit into your cash ISA in any tax year (other than the year of application) you will need to complete a new application form if you want to make deposits in a later year.
2. OPENING AND RUNNING YOUR FRISA
   2.1 Your FRISA must be opened with a valid application form. It will start from the date we open it and applications cannot be backdated.
   2.2 If you are converting an existing Lloyds TSB cash ISA (from any of the Lloyds TSB cash ISA range) to a FRISA it will start from the date you ask us to do the conversion and your account number will remain the same as the existing Lloyds TSB cash ISA.
   2.3 There is no need to complete a new application when your FRISA converts to our variable cash ISA at the end of the fixed interest rate period because your application for a FRISA constitutes a ‘continuous application’.
   2.4 The administration of your FRISA will be carried out by Lloyds TSB Bank plc. Queries about your FRISA can be made at any branch or through Telephone Banking if you are registered.
3. DEPOSITS AND WITHDRAWALS
   3.1 If you’ve opened a FRISA, you can pay all or part of your yearly cash ISA allowance into your FRISA at any time.  You can do this by:
   (a) transfer from a cash ISA account with us or another ISA manager which you have subscribed to in the same tax year or in previous tax years (in which case you must complete a cash ISA transfer form as part of your application); or
   (b) paying money into your FRISA at any branch, or by transferring money from another account.
   3.2 The maximum amount you can pay into a cash ISA in any tax year is set by HM Treasury. To find out the latest allowance contact us or HMRC.
   3.3 If the 2 year fixed rate period for your FRISA expires after a new tax year begins, then you will be able to add that new tax year’s allowance to your FRISA.
   3.4. You can make a withdrawal or transfer out to another ISA from your FRISA during the fixed rate period. If you do so, you will lose the equivalent of 180 days’ tax free interest earned on the amount withdrawn or transferred. We will deduct the charge from the balance in your account before the withdrawal is made. After making a payment or withdrawal you will not be able to pay more money into your FRISA, if it means you pay in more than the yearly cash ISA allowance set by HM Treasury.
   3.5 You can ask to transfer the whole of your FRISA during a tax year in which you make payments into it, or the whole or part of your FRISA deposits (and interest) from a previous tax year or years, to a cash ISA or a stocks and shares ISA with another ISA provider (including Scottish Widows). You must complete a transfer application with your new provider who will send the transfer application to us. Within 5 working days of receiving the transfer application from your new provider, we will send your money and information to your new provider.
4. INTEREST
   4.1 When you have less than £1 in your FRISA, we will not pay interest on the amount in your account. Interest will start to be paid again (on the whole balance) if the balance is restored above that limit.
   4.2 The fixed rate period will run from the date of account opening (or the date we convert your Lloyds TSB cash ISA to a FRISA where condition 2.2 applies), even if the account is opened with a nil balance.
   4.3 As explained in condition 3.4, you will pay a charge equivalent to 180 days’ interest on any withdrawals or transfers out of your 2 year FRISA during the fixed rate period.
   4.4 Interest is fixed and can vary depending on the amount in your FRISA. You can find out the current interest rates for our FRISA at any of our branches, by telephoning us on the Interest Rates Helpline on 0845 300 0032, or by visiting our Savings rates page.
   4.5 Interest on your FRISA will be calculated daily on the balance of the account.  We will pay you interest yearly on the anniversary of account opening or on closure of the account if earlier. As long as you and your FRISA continue to qualify, interest will be paid tax-free.
5. CHANGES TO THE ISA REGULATIONS
   5.1 Any changes made by HMRC to ISA Regulations that affect these conditions will apply as soon as they come into force.
   5.2 Favourable tax treatment for ISAs may not be maintained (the Government is responsible for decisions about tax treatment).
6. END OF THE FIXED RATE PERIOD
   6.1 At the end of the fixed rate period the interest paid on this account will become variable and the account will be one of our variable cash ISA accounts. Your FRISA sort code and account number will not change and the variable cash ISA conditions in force at that time will then apply. Our current variable cash ISA conditions are attached below.
7. OTHER TERMS
   7.1 We are required to provide details of all ISA holders to HMRC. If you are or become non-resident in the UK, HMRC may be required to share this information with tax authorities in your country of residence.
   7.2 We will send you a statement each year showing transactions up to and including 5th April.
   7.3 We will send you a duplicate statement on request. There will be a reasonable charge for this which you will be notified of at the time of your request. This will be deducted from your FRISA balance. 
   7.4 We may delegate any of our functions or responsibilities under this agreement to a third party. If we do so, we will first satisfy ourselves that the third party is competent to carry out those functions and responsibilities.
8. CLOSING YOUR CASH ISA
   8.1 You can close your FRISA at any time but if you close your account during the fixed rate period you will pay a charge for withdrawing funds as set out in condition 3.4. Any interest earned up to closure will be tax-free. If you have made a deposit into your FRISA in the same tax year as you close it, you cannot open a new cash ISA for the same tax year with us or any other cash ISA provider.
   8.2 If your FRISA stops qualifying as an ISA we will close it and notify you.  We will deduct income tax at the appropriate rate on the interest earned on your deposit so far, including any interest you have already been paid.  The tax will be deducted from your FRISA before the balance is paid to you.
   8.3 Your FRISA will cease to qualify as an ISA and the interest will become subject to the deduction of income tax in the following circumstances:
   (a) if the terms of the declaration on the application form are or become untrue;
   (b) if you transfer any of your rights as an account holder or use your FRISA as security for a financial liability;
   (c) from the date of your death; or
   (d) if HMRC instructs us accordingly.
   8.4 If you die, your FRISA balance will normally be paid to your estate. When we receive notice of your death we will close your FRISA and pay any interest earned up to the date of death tax free.  We will transfer the balance to a new account on which interest will be earned at the current Lloyds TSB Easy Saver interest rates.
   8.5 We will notify you if, by reason of any failure to satisfy the provisions of HMRC ISA Regulations, your FRISA becomes or will become subject to the deduction of tax.
9. COOLING OFF
   9.1 If you apply for a FRISA you will be able to change your mind and cancel your account at any time before the end of the 14-day period starting on the day your FRISA is opened or the day you receive your ISA Welcome Pack, whichever is later. If you cancel your FRISA you are free to subscribe to another ISA in the same tax year. If you decide to cancel we will repay you any money you have paid together with any interest due on it, or help you to switch the balance to another account. To cancel this agreement you should tell us by writing to us at Lloyds TSB Bank plc, BX1 1LT. There are no charges for cancelling your FRISA agreement, and you do not have to give any advance notice.

CASH ISA SAVER CONDITIONS
Our agreement with you is made up of general conditions (contained in the Personal banking terms and conditions) 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 general conditions, the additional conditions apply.

The Cash ISA Saver account has a variable interest rate, and is a restricted savings account, as you can only pay in the yearly cash ISA allowance set by HM Treasury. It is provided by Lloyds TSB Scotland plc if you open it in a Lloyds TSB Scotland plc branch or you have a current account with Lloyds TSB Scotland plc, otherwise it is provided by Lloyds TSB Bank plc. Both banks have been approved as ISA managers by HMRC.

1. ELIGIBILITY
   1.1 To have a Cash ISA Saver, you must be at least 16 years old and either (a) resident and ordinarily resident in the United Kingdom for tax purposes or (b) subject to United Kingdom tax under Section 28 of the Income Tax (Earnings and Pensions) Act 2003, or married to, or in a civil partnership with, such a person. You must inform us if these conditions no longer apply to you.
   1.2 The Cash ISA Saver must be in your sole name and all funds deposited in it must belong to you.
   1.3 You must not pay into more than one cash ISA in any one tax year.
   1.4 HMRC ISA Regulations state that if you do not make a deposit into your Cash ISA Saver in any tax year (other than the year of application) you will need to complete a new application form if you want to make deposits in a later year.
2. OPENING AND RUNNING YOUR CASH ISA SAVER
   2.1 Your Cash ISA Saver will start from the date of your first deposit which must be at least £1 and be accompanied by a valid application form. Applications cannot be backdated.
   2.2 The administration of your Cash ISA Saver will be carried out by Lloyds TSB Bank plc. Queries about your Cash ISA Saver can be made at any branch or through Telephone Banking if you are registered.
3. DEPOSITS AND WITHDRAWALS
   3.1 You can pay all or part of your yearly cash ISA allowance into your Cash ISA Saver at any time. You can do this by:
   (a) transfer from a cash ISA account with us or another ISA manager which you have subscribed to in the same tax year or in previous tax years (in which case you must complete a cash ISA transfer form as part of your application); or
   (b) paying money into your Cash ISA Saver at any branch, or by transferring money from another account.
   3.2 If you make regular monthly payments to your Cash ISA Saver, they must be from a bank or building society account of which you are a named account holder (“your nominated account”) and either:
   (a) made by standing order if your nominated account is an account you hold with us; or
   (b) made by direct debit if your nominated account is held by another bank or building society.
   3.3 The maximum amount you can pay into a cash ISA in any tax year is set by HM Treasury. To find out the latest allowance contact us or HMRC.
   3.4 You can make a payment or withdrawal from your Cash ISA Saver at any time. If you request payment by cheque, the standard fee for cheques will apply. After making a payment or withdrawal you will not be able to pay more money into your Cash ISA Saver, if it means you pay in more than the yearly cash ISA allowance set by HM Treasury.
   3.5 You can ask to transfer the whole of your Cash ISA Saver during a tax year in which you make payments into it, or the whole or part of your Cash ISA Saver deposits (and interest) from a previous tax year or years, to a cash ISA or a stocks and shares ISA with another ISA provider (including Scottish Widows). You must complete a transfer application with your new provider who will send the transfer application to us. Within 5 working days of receiving the transfer application from your new provider, we will send your money and information to your new provider.
4. INTEREST
   4.1 When you have less than £1 in your Cash ISA Saver, we will not pay interest on the amount in your account. Interest will start to be paid again (on the whole balance) if the balance is restored above that limit.
   4.2 The interest rate is variable. You can find out the current interest rates for our Cash ISA Saver at any of our branches, by telephoning us on the Interest Rates Helpline on 0845 300 0032, or by visiting our Savings rates page.
   4.3 We will pay interest once a year on 31st March or the next working day. As long as you and your Cash ISA Saver continue to qualify, interest will be paid tax-free.
5. CHANGES TO THE ISA REGULATIONS
   5.1 Any changes made by HMRC to ISA Regulations that affect these conditions will apply as soon as they come into force.
   5.2 Favourable tax treatment for ISAs may not be maintained (the Government is responsible for decisions about tax treatment).
6. OTHER TERMS
   6.1 We are required to provide details of all ISA holders to HMRC. If you are or become non-resident in the UK, HMRC may be required to share this information with tax authorities in your country of residence.
   6.2 We will send you a statement each year showing transactions up to and including 5th April.
   6.3 We will send you a duplicate statement on request. There will be a reasonable charge for this which you will be notified of at the time of your request. This may be deducted from your Cash ISA Saver, even if it causes the funds in your Cash ISA Saver to fall below the minimum balance. Please see conditions 4.1 (Interest) and 7.2 (Closure of the account) for details of how this could affect your Cash ISA Saver.
   6.4 We may delegate any of our functions or responsibilities under this agreement to a third party. If we do so, we will first satisfy ourselves that the third party is competent to carry out those functions and responsibilities.
7. CLOSING YOUR CASH ISA SAVER
   7.1 You can close your Cash ISA Saver at any time and any interest earned will be tax-free. If you have made a deposit into your Cash ISA Saver in the same tax year as you close it, you cannot open a new cash ISA for the same tax year with us.
   7.2 We may close your Cash ISA Saver if the balance falls below £1 but we will normally give you 30 days' notice before doing so.
   7.3 If your Cash ISA Saver stops qualifying as an ISA we will close it and notify you. We will deduct income tax at the appropriate rate on the interest earned on your deposit so far, including any interest you have already been paid. The tax will be deducted from your Cash ISA Saver before the balance is paid to you.
   7.4 Your Cash ISA Saver will cease to qualify as an ISA and the interest will become subject to the deduction of income tax in the following circumstances:
   (a) if the terms of the declaration on the application form are or become untrue;
   (b) if you transfer any of your rights as an account holder or use your Cash ISA Saver as security for a financial liability;
   (c) from the date of your death; or
   (d) if HMRC instructs us accordingly.
   7.5 If you die, your Cash ISA Saver balance will normally be paid to your estate. When we receive notice of your death we will close your Cash ISA Saver and pay any interest earned up to the date of death tax free.  We will transfer the balance to a new account on which interest will be earned at the Easy Saver interest rates.
   7.6 We will notify you if, by reason of any failure to satisfy the provisions of HMRC ISA Regulations, your Cash ISA Saver becomes or will become subject to the deduction of tax.