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Compare Lloyds Bank ISAs

Compare ISAs from Lloyds Bank and other ISA options available.

Investment ISAs put your capital at risk & you may get back less than you originally invested

Cash ISA Saver

from Lloyds Bank

Interest Rate (AER) 1.40% balances up to £24,999, 1.45% balances from £25,000 to £99,999, 1.90% balances £100,000+
  • Term: Instant Access
  • Tax free ISA account
  • Open with £1 or transfer in existing ISA funds
  • Invest up to £20,000 per tax year
  • Interest paid annually
  • FSCS Protected
  • Must be UK resident
  • Must be aged 16 or older

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

Stocks & Shares ISA

from Nutmeg

ISA Option
Allows ISA Transfers
  • Fund Choice: Nutmeg offer 5 diversified portfolios with ETFs, using technology to keep charges low. Capital at risk. Approved by Nutmeg 24/02/2023
  • Invest From: Min. £500 single

Stocks & Shares ISA

from Interactive Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds.
  • Invest From: £25 pm
See Deal Open an ISA before 31 December and get £100 cashback. New customers only, invest £5k or more. Terms & fees apply. Capital at risk.

Stocks & Shares ISA

from Wealthify

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have an investment Plan built and managed for you
  • Invest From: £1

Stocks & Shares ISA

from Fidelity

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 4,000 investment options, including one of the widest fund ranges in the UK. With online guidance tools and expert fund ideas to help you choose. Capital at risk
  • Invest From: £25 pm

Stocks & Shares ISA

from AJ Bell

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in over 2,000 funds, shares and more across 25 markets. Invest from £25 per month. Which? Recommended Provider for Investment Platforms 2019–2023. Low-cost online dealing from £1.50. Open your account in minutes from app or website, manage your portfolio on the move. FSCS protected. Capital at risk
  • Invest From: £25 pm

Stocks & Shares ISA

from Best Invest

ISA Option
Allows ISA Transfers
Regular Savings
  • Fund Choice: Over 2,500 funds, UK shares, investment trusts and ETFs or choose Ready Made & Managed Portfolios
  • Invest From: No minimum

Stocks & Shares ISA

from Hargreaves Lansdown

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 3,000 funds, shares, investment trusts and more to build your portfolio. Capital at risk.
  • Invest From: £25 pm or £100 lump sum

Investment ISA

from Barclays Smart Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in over 2,000 funds, plus Exchange Traded Funds, Investment Trusts, Shares and more. 5 Ready-made Investment funds if you’re not sure where to invest. Capital at risk.
  • Invest From: Any amount

Stocks & Shares ISA

from Moneyfarm

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have it matched to an investment portfolio expertly built and managed.
  • Invest From: £1,500

Share Dealing ISA

from IG

Allows ISA Transfers
  • Trade From (frequent trader rate): £3.00
  • Trade From (standard trader rate): £8.00
See Deal Choose from over 13,000+ global stocks & ETFs. Invest in UK shares from as little as £3 per trade. IG offer a "Smart Portfolio ISA" where you can get an expertly built portfolio that is right for your risk profile. Capital at risk.

Junior Stocks & Shares ISA

from Hargreaves Lansdown

Regular Savings
  • Invest From: £25 pm
  • Investment Options: Invest in over 3,000 funds, UK and overseas shares, investment trusts and ETFs. Capital at risk.

Junior Stocks & Shares ISA (Future World ESG Developed Index Fund)

from Legal & General

Regular Savings
  • Invest From: £25 per month
  • Investment Options: Invests in broad developed stock markets, such as the US, Japan and Europe. Capital at risk.

Socially Responsible Junior Stocks & Shares ISA

from Nutmeg

  • Invest From: £100
  • Investment Options: Nutmeg offer a socially responsible junior investment ISA which places emphasis on environmental and social and governance factors. Capital at risk. Approved by Nutmeg 24/02/2023

Junior Stocks & Shares ISA

from AJ Bell

Regular Savings
  • Invest From: £25 pm
  • Investment Options: AJ Bell offer a wide range of investments including shares, funds, investment trusts and ETFs (exchange traded funds). Capital at risk.

Junior Stocks & Shares ISA

from Interactive Investor

Regular Savings
  • Invest From: £25 pm
  • Investment Options: Choose from more than 40,000 UK and global investment options for your child's ISA. Capital at risk.

Junior Stocks & Shares ISA

from Nutmeg

  • Invest From: £100
  • Investment Options: Choose your investment style and preferred risk level. Capital at risk. Approved by Nutmeg 24/02/2023

Junior Stocks & Shares ISA

from Wealthify

Regular Savings
  • Invest From: £1
  • Investment Options: Choose from one of five investment styles based on risk, and a team of experts build your child’s Junior ISA, choosing which investments to buy and managing them on your behalf

Junior Stocks & Shares ISA

from Scottish Friendly

Regular Savings
  • Invest From: £10 pm
  • Investment Options: A selection of 9 funds so you can tailor your child's investment. Capital at risk.
See Deal When you take out a My Select (Junior ISA) Scottish Friendly will pay £50 into the Junior ISA for your child.

Junior Stocks & Shares ISA

from Best Invest

Regular Savings
  • Invest From: No Minimum
  • Investment Options: Choose your own investments, invest with help from an adviser or let the experts take care of it all for you. Capital at risk.

Who are Lloyds Bank?

Lloyds Bank are the largest retail bank in the UK.

Founded in Birmingham in 1765, they operate a large number of branches throughout the country and are an established, household brand.

They offer a wide range of financial services for personal and private banking, international banking and business banking.

One of the products they offer to retail customers is their ISA accounts, which are available as Cash ISAs and Investment ISAs.

What is an ISA account?

An ISA account is a type of tax-efficient savings account.

ISA account savings and investments are 100% free from the following taxes:

  1. Capital Gains Tax (normally paid on the growth of your investments)
  2. Income Tax (normally paid on the interest and dividends from your savings and investments)

These tax benefits make ISA accounts excellent savings options for UK investors, as you never need to worry about declaring your profits or paying tax on them.

However, HMRC sets a limit on how much you can contribute to ISAs each tax year – this is called your ISA allowance.

For the current tax year, the ISA allowance is £20,000, meaning you can’t add any more than this amount to ISAs this year.

There are two main types of ISA accounts:

  1. Cash ISAs
  2. Stocks and Shares ISAs (also known as Investment ISAs)

What is the difference between a Cash ISA and an Investment ISA?

Here are some key details about each type of ISA so you understand the differences between the two.

Cash ISAs

  • Cash ISAs provide you with a fixed or variable rate of interest
  • Cash ISA investments cannot lose value, but interest rates have been very low since 2008
  • Fixed-term Cash ISAs have guaranteed rates of interest, but you are penalised for withdrawing before the end of your term
  • ‘Instant access’ or ‘easy access’ ISAs have lower, variable rates of interest that fluctuate, but you can withdraw more regularly and usually free of charge

Banks prefer you to keep your ISA money invested for longer, without making withdrawals, because it benefits the way in which they use your money.

This means that:

  • The longer the fixed term on a fixed-rate ISA, the more interest you’ll receive
  • The more accessible a variable-rate ISA is, the lower interest rates you'll get

Investment ISAs

  • Investment ISAs Allow you to invest in the stock market
  • Either in a self-select portfolio where you pick your funds and shares yourself
  • Or in a ready-made portfolio managed by investment professionals
  • The potential for returns is much higher for Investment ISAs
  • But the value of your ISA can go down as well as up, so they are higher risk
  • You also have greater freedom for withdrawals with an Investment ISA

Lloyds Bank offer both Investment ISAs and Cash ISAs.

What type of Cash ISAs do Lloyds Bank provide?

Lloyds Bank offer two types of Cash ISA:

  • A fixed-rate Cash ISA
  • A variable-rate Cash ISA

Their fixed-rate ISA locks you in for a set number of years If you take money out before the end of the term you lose a chunk of the interest you’ve earned.

You must invest with a minimum of £3,000, but the interest rates are higher than the variable ISA option.

You are free to withdraw as and when you please from their variable-rate ISA, but the interest rates are lower.

What type of Investment ISA do Lloyds Bank provide?

Lloyds Bank’s Investment ISA provides you with a range of ready-made portfolios to invest your money in.

These managed portfolios invest in the stock market and are controlled and monitored by professional fund managers.

You can choose a portfolio based on your attitude to risk, with options ranging from lower to higher risk portfolios.

Pros:

  • You benefit from professional investment management and don’t have to make your own decisions
  • Your investment is diversified automatically to spread risk
  • Higher potential returns compared to Cash ISAs

Cons:

  • The risk that your investment can go down as well as up
  • You pay for ongoing account charges (more on these later)
  • You don’t have the control to choose your funds and shares yourself

What are the charges for a Lloyds Bank ISA?

Lloyds Cash ISAs are free of charge unless you withdraw before the end of your fixed term, in which case you lose a portion of your interest (usually 180 days).

Lloyds Investment ISAs apply an ongoing service fee, ongoing charge and transaction costs.

Each portfolio has a different charge, so check the terms of your investment before you decide so you know the charges you’ll be paying.

How do I open a Lloyds Bank ISA?

To open a Lloyds ISA you’ll need to open an Internet Banking account.

You can do this online by setting up a login and password.

You can then open your ISA account in minutes by providing:

  • Basic personal information
  • Your National Insurance Number
  • Your recent address history

You’ll need to be:

  • Over 16
  • A Uk resident

Finally, you’ll need to add money to open your account, and you can do this with a debit card payment or by setting up a direct debit for a regular contribution.

Oliver Roylance-Smith
Edited by Oliver Roylance-Smith - ISA.co.uk

Frequently Asked Questions

No. You can switch providers with an ISA transfer if you wish. You can also contribute to other ISA providers in separate tax years.

ISA accounts are authorised and regulated by the Financial Conduct Authority (FCA). This means that all ISA providers are covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 if they go out of business.

Please note that this may not apply to the underlying holdings within a Stocks and Shares ISA, and will not cover standard investment losses. 

No, ISA stands for Individual Savings Account and must be solely owned for tax purposes.

You can lose money in a Stocks and Shares ISA if your investments go down in value. You cannot lose money with a Cash ISA.

For Cash or Stocks and Shares ISAs, yes, although some Cash ISAs may charge a fee or void your interest if you surrender your policy before the fixed term has ended.

There is never any tax to pay or declare when withdrawing money from an ISA.

The easiest way to withdraw money from your Investment ISA will be online, via your mobile app, or over the telephone. Just remember that you need to sell enough holdings first to cover your withdrawal.

You can also request a withdrawal via postal instruction if this is more convenient for you. 

Most ISA withdrawals will complete in approximately five working days, but they could take longer depending on the assets you need to sell.

The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2023/24 tax year.

The annual ISA allowance runs in line with the normal tax year, which is 6th April to 5th April the following year. Your ISA allowance will refresh on 6th April each year.

A Stocks and Shares ISA provider will charge an ongoing, annual platform fee as well as some ad hoc charges.

A Cash ISA could also charge if you withdraw money before the end of a fixed-term investment.

Important Risk Information:

Capital at risk. Tax treatments depend on your individual circumstances and may change. The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.