At a glance
Save up to £5,760 tax-free, paying in as often as you like, with our Cash ISA savings account. You can open your account with just £1, and if you need your money quickly, you can get instant access with no withdrawal fee.
|Balance||Interest Paid Annually|
|AER/Tax-free||Gross/Tax - free%|
|£1 - £4,999||0.90||0.90|
These interest rates are correct as at 01/05/2013.
Accounts opened will receive the rates above for 12 months. The rates include a 0.50% fixed bonus for balances of £5,000 or more (0.40% for balances of £1 - £4,999) from the date of the account opening.
After 12 months, your interest rate will change to the Cash ISA Saver - off bonus rate.
|Balance||Interest Paid Annually|
|AER/Tax - free%||Gross/Tax - free%|
|£1 - £4,999||0.50||0.50|
These interest rates are correct as at 01/05/2013.
Interest rates are variable. View previous rates.
Lloyds TSB Cash ISA Saver is provided by Lloyds TSB Scotland plc if you open it in a Lloyds TSB Scotland plc branch or already have a current account there, otherwise it is provided by Lloyds TSB Bank plc. Both banks are approved ISA Managers.
|Account name||Cash ISA Saver|
|Interest rates (AERs)||Variable interest including a 12 month fixed bonus. Interest is paid yearly.
Cash ISA Saver interest rates.
|Tax status||Interest will be tax free.
The favourable tax treatment for ISAs depends on your individual circumstances and may change.
|Conditions for bonus payments||Not applicable|
|Withdrawal arrangements||Get instant access with no loss of interest. Once you’ve paid in your full year’s cash ISA allowance you can’t replace any money you’ve withdrawn in the same tax year. There is no charge for withdrawals.|
|Access to your account||Online, by phone or in branch.|
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.
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
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 variable cash ISA 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.
1.1 To have a variable cash ISA, 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 variable cash ISA 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 mean that if you do not make a deposit into your variable 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 CASH ISA SAVER
2.1 Your variable cash ISA 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 variable cash ISA will be carried out by Lloyds TSB Bank plc. Queries about your variable cash ISA 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 variable cash ISA 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 variable cash ISA at any branch, or by transferring money from another account.
3.2 If you make regular monthly payments to your variable cash ISA, 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 variable Cash ISA 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 variable Cash ISA, 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 variable cash ISA during a tax year in which you make payments into it, or the whole or part of your variable cash ISA 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.
4.1 When you have less than £1 in your variable cash ISA, 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 variable cash ISA at any of our branches, by telephoning us on the Interest Rates Helpline on 0845 300 0032, or by visiting our website at www.lloydstsb.com/isa.
4.3 We will pay interest once a year on 31st March or the next working day. As long as you and your variable Cash ISA 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 variable cash ISA, even if it causes the funds in your variable cash ISA 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 variable cash ISA.
7. CLOSING YOUR CASH ISA SAVER
7.1 You can close your variable cash ISA at any time and any interest earned will be tax-free. If you have made a deposit into your variable cash ISA 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 variable cash ISA if the balance falls below £1 but we will normally give you 30 days' notice before doing so.
7.3 If your variable cash ISA 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 variable cash ISA before the balance is paid to you.
7.4 Your variable cash ISA 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 variable cash ISA 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 variable cash ISA balance will normally be paid to your estate. When we receive notice of your death we will close your variable cash ISA 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 variable Cash ISA becomes or will become subject to the deduction of tax.
8. COOLING OFF
8.1 If you apply for variable cash ISA 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 variable cash ISA is opened or the day you receive your ISA Welcome Pack, whichever is later. If you cancel your variable cash ISA 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 variable cash ISA agreement, and you do not have to give any advance notice.
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 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 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 is the contractual rate of interest payable where interest is exempt from income tax.
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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.
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.