Lloyds Bank Monthly Saver
Lloyds Bank Monthly Saver account conditions
Monthly Saver is a savings account for existing Lloyds Bank current account customers who want to save regularly but still have
instant access to their money. It pays interest at a fixed rate, and lasts for a year. It's a restricted savings account – this affects how
and when we tell you about any changes.
Deposits
You can save between £25 and £250 a month, by bank transfer or using a standing order.
Please make sure we get your first payment during the 28days after you open your account. Following this, we need to get your
monthly payments by 25th of the month.
You can pay in more than once a month, as long as you don't pay in over £250.
You don't have to pay in every month – but because you can't save more than £250 a month, you'll limit the amount you can save.
Ifyou use a standing order, you can change the amount at any time.
If you pay in more than £250 in a month, we'll return the full amount of the payment which took your savings that month over £250.
Withdrawals
You can take your money out straightaway:
• by transfer to another Lloyds Bank savings or current account in your name; or
• through one of our branches with a counter
As you can't save more than £250 a month, please remember any withdrawals will limit the amount you can save.
You can use Internet Banking, our Mobile Banking app, call us or come into a branch with a counter.
Interest
We pay fixed interest – this means your interest rate won't change while you have the account.
We pay interest into your account on the anniversary of account opening.
To check your current interest rate, see the interest rates leaflet or our website.
As we work out your interest each day and pay it at the end of 12months, you won't get a full year's interest on all your savings.
Forexample, if you save £50 each month, we'll pay you interest on your first £50 for 12months, the second £50 for 11months
and so on.
Account information
Normally we provide a statement when your account matures. We'll also do this if you take money out during a month.
You can check your account using Internet Banking or our Mobile Banking app as well.
Maturity
We'll get in touch before the end of the term, to ask what you'd like to do with your savings.
If we don't get instructions in time, then on the working day after the end of its fixed term your account will automatically
change to a Standard Saver. After this the Standard Saver interest rate and account conditions will apply.
You'll still have instant access and we'll send you full details before the change. If you keep your savings in a Standard Saver,
we'll take you as having agreed to the new account conditions.
Please remember, any regular payments into your account will carry on after it changes to a Standard Saver.
