Lloyds Bank

Lloyds Bank is one of the oldest banks in the UK, having been founded in Birmingham in 1765. It’s also the largest retail bank in the UK, with almost 2,000 branches across the country.

It’s the main brand of Lloyds Banking Group, which is headquartered in London and listed on the London Stock Exchange. It’s a member of the FTSE 100.

Lloyds offers the full range of banking products, from current and savings accounts to personal loans, mortgages and credit cards. It also offers a range of insurance products.

As well as the Lloyds brand, the group also owns Halifax, Bank of Scotland, MBNA, Scottish Widows and Birmingham Midshires.

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Bank accounts

Ranked 7^th of 31 providers reviewed.

Customer happiness	62.25%
Customer trust	58.52%
Complaints performance	70.31%
Transparency rating	81.29%
Fairer Finance score Reviewed Spring 2023	68%

Breakdown Cover

Ranked 7^th of 27 providers reviewed.

Customer happiness	58.72%
Customer trust	67.69%
Complaints performance	70.35%
Transparency rating	68.04%
Fairer Finance score Reviewed Spring 2023	66%

Car insurance

Ranked 12^th of 53 providers reviewed.

Customer happiness	67.31%
Customer trust	62.1%
Complaints performance	75.33%
Transparency rating	72.04%
Fairer Finance score Reviewed Spring 2023	69%

Credit cards

Ranked 5^th of 31 providers reviewed.

Customer happiness	60.37%
Customer trust	56.67%
Complaints performance	71.72%
Transparency rating	71.95%
Fairer Finance score Reviewed Spring 2023	65%

Home Emergency Cover

Ranked 4^th of 28 providers reviewed.

Customer happiness	54.63%
Customer trust	61.81%
Complaints performance	78.08%
Transparency rating	79.91%
Fairer Finance score Reviewed Spring 2023	69%

Home insurance (building and contents)

Ranked 19^th of 48 providers reviewed.

Customer happiness	61.51%
Customer trust	62.56%
Complaints performance	72.97%
Transparency rating	74.55%
Fairer Finance score Reviewed Spring 2023	68%

Investing and pensions

Ranked 13^th of 24 providers reviewed.

Customer happiness	60.43%
Customer trust	63.48%
Complaints performance	71.55%
Transparency rating	66.56%
Fairer Finance score Reviewed Spring 2023	66%

Life insurance

Ranked 12^th of 25 providers reviewed.

Claims score	90.90%
Complaints performance	86.47%
Transparency rating	49.01%
Fairer Finance score Reviewed Spring 2023	75%

Mortgages

Ranked 7^th of 23 providers reviewed.

Customer happiness	60.36%
Customer trust	57.05%
Complaints performance	82.89%
Transparency rating	62.11%
Fairer Finance score Reviewed Spring 2023	66%

Personal loans

Ranked 8^th of 26 providers reviewed.

Customer happiness	60.19%
Customer trust	56.71%
Complaints performance	70.31%
Transparency rating	73.51%
Fairer Finance score Reviewed Spring 2023	65%

Savings Accounts

Ranked 30^th of 53 providers reviewed.

Customer happiness	52.22%
Customer trust	60.25%
Complaints performance	70.31%
Transparency rating	74.34%
Fairer Finance score Reviewed Spring 2023	64%

Cash withdrawal fee in UK (own bank) i	£0.00
Annual fee i	£0.00
Part of FSCS i
Faster Payment limit i	£250,000.00
Maximum cash machine withdrawal per day i	£500.00
Can you use your card to pay for items overseas? i

Annual fee i	£0 (£36 unless you pay in £2000 per month)
Maximum cash machine withdrawal per day i	£500.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i	£0.00
Card payment fee (£) i	£0.00
App capability? i

Foreign cash withdrawal fee i	2.99%
Foreign cash withdrawal additional charge i	£0.00
Foreign purchases fee i	2.99%
Is there a limit on free cash withdrawals? i	No free cash withdrawals

Risk based overdraft? i
Arranged overdraft interest free amount i	£50.00
Arranged overdraft interest rate (representative EAR) i	39.9%

Add-ons, cashback and rewards i	European and UK Travel Insurance, AA Breakdown Family Cover, Mobile Phone Insurance. Access to Save the Change (rounds up spending to nearest pound to save), lifestyle benefits (e.g. 6 cinema tickets free, magazine subscription, Gourmet Society subscription, 12 digital movie rentals), up to 15% cashback with certain retailers
Part of FSCS or international equivalent i

Add-ons, cashback and rewards i	Allianz worldwide travel insurance (including winter sports) for holder & family, LSG Mobile phone insurance, AA family breakdown cover (UK), access to Save the Change (rounds up spending to nearest pound to save), lifestyle benefits (e.g. 6 cinema tickets free, magazine subscription, Gourmet Society subscription, 12 Months of Disney+), up to 15% cashback with certain retailers
Part of FSCS or international equivalent i

Arranged overdraft limit i	£2,000.00
Tiered repayment of overdraft i
Switching / sign up incentive i

Roadside recovery
Home Start i
Nationwide recovery
Maximum call outs per year	Unlimited
Replacement Hire Car i
Will they recover your car in cases of misfuelling? i
Will you be recovered if you run out of fuel?
Will they attend to assist with a flat battery? i
Will they attend to assist with a flat tyre? i
Will they attend if keys are locked in the vehicle?
Will they attend/cover if keys are lost/broken/stolen?
Compulsory call out excess	£0.00
Cancellation window (days)	14
Pro rata refund
Will they drain wrong fuel and replace in cases of misfuelling? i
Number of passengers permitted for onward travel as standard in the UK i	0
Emergency Overnight Accommodation i
Available to purchase alone?

Representative APR i	22.4%
Annual fee in first year i	£32.00
Using card in Europe charge i	2.95%
Using card worldwide charge i	2.95%

Cover limit for lost keys i	£1,000.00
Courtesy car for duration of repair i
Uninsured driver promise i
Cover for replacing original audio/visual equipment i	Unlimited
Windscreen repair excess i	£0.00
Windscreen replacement excess i	£75.00
Repairs guarantee (years) i	3 years
New car replacement i
Cover limit for stolen keys i	£1,000.00
24hr helpline available i
Courtesy car provided if stolen / total loss i
Vandalism i

Duration of 0% balance transfer offer period i	24 or 14 months
Balance transfer fee during promotional period i	1.99% or 3.49%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of 0% balance transfer offer period i	15 or 12 months
Balance transfer fee during promotional period i	2.99% or 3.49%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of purchases offer period i	17 or 12 months
Representative APR i	22.9%
Highest APR i	28.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.736%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	6 months
Representative APR i	22.9%
Highest APR i	28.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.736%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Reward extras i
Representative APR i	22.9%
Risk based? i
Annual fee in first year i	£0.00
Annual fee after first year i	£0.00
Foreign purchase fee i	2.95%

Foreign purchase fee i	2.95%
Foreign withdrawal fee i	5%
Representative APR i	22.9%
Number of days before interest is charged on non-sterling cash transactions i	0 days
Risk based? i
Representative purchase rate i	1.736%

Representative APR i	10.9%
Highest APR i	17.9%
Representative purchase rate i	0.869%
Risk based? i
Representative balance transfer rate i	0.869%
Representative money transfer rate i	0.869%

Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i	22.9%
Risk based? i
Representative cash transaction interest rate i	1.736%

Water Supply Pipe Cover i
Boiler Breakdown Cover i
Home Security Cover i
Lost keys Cover i	Covered under the home insurance policy
Cover Type i	Add-On
Home Emergency Cover limit i	£1,000.00
Minimum Excess i	£0.00
Internal plumbing and drainage i
External Drainage i
Burst or damaged pipes i
Toilet unit i
Root damage cover i
Primary Heating System i
Temporary Emergency Heating i
Internal gas supply pipe cover i
Boiler Age Exclsuions i	No Exclusion
Annual boiler service i
Age of boiler to qualify for a beyond economic repair contribution i	No Exclusion
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 5 years old or less. i	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 6 years old or less. i	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 7 years old or less. i	£500.00
Domestic Power supply covered? i
Roof damage i	Covered under the home emergency policy
Pest infestation cover i
Underwriter i	AWP P&C SA
Maximum Excess i	£0.00
Alternative Accommodation Cover i	£250.00
24/7 Claims Helpline i
Unoccupied period i	60

Alternative accommodation cover limit for buildings i	£100,000.00
Matching sets (contents) i
Theft from outbuildings cover limit i	£5,000.00
Escape of water excess i	£100.00
Standard accidental damage - underground services
Alternative accommodation cover limit for contents i	£25,000.00
Cycles included whilst in the home i
Cover for keys if lost or stolen (contents) i	Sum Insured
Keys/locks if lost or stolen (Buildings) i	Sum Insured
Money in the home i	£500.00
Replace belongings new for old i
Trace and access i	£5,000.00
Matching sets (Buildings) i	50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i	£100.00
Compulsory excess (contents) i	£100.00
Additional flood excess i	£0.00
Standard excess for subsidence claims	£1,000.00
Liability as a tenant i	£10,000.00
Liability to domestic employees i	£10,000,000.00
Property owner liability i	£2,000,000.00
Buildings cover limit i	Unlimited
Contents cover limit i	£250,000.00
Underwriter	Lloyds bank
24hr helpline i
Unoccupied period i	60
Protection against inflation i
Repairs guarantee i
Amendment fee (telephone) i	£0.00
Cancellation fee after 14 days i	£0.00
Protected no claims discount option
24-hour claims helpline	Home Emergency Only
Cancellation fee before 14 days	£0.00
Accidental damage - glass and sanitary wear
Damage caused by freezing pipes
Damage from Emergency Services
Cover to break in and clear sewage pipe
Garden protection	£1,000.00
Blocked drains i
Accidental damage cover
Domestic heating fuel and metered water i
Music, film or electronic data downloads
Documents	£2,500.00
Visitor's possessions	£500.00
Out in open cover
Frozen Food Cover	£500.00
Temporary freezer storage
Theft or attempted theft i
Dual contents i
Escape of water or oil from appliances i
Escape of water or oil from heating systems i	£500.00
Credit cards i	£0.00
Storage fees (alternative accommodation) i
Garden plants i
Business equipment	Sum Insured
Household removals
Student's belongings i
Shopping in transit i	£0.00
Cover Away from Home offered for: Electronics	Optional
Cover away from home offered for: money	Optional
Cover away from home offered for: jewellery	Optional
Cover away from home offered for: bicycles & other	Optional
Special events (weddings and civil ceremonies) - limit	Not Offered
Special events (weddings and civil ceremonies) - days	Not Offered
Special events (births) - limit	Not Offered
Special events (births) - days	Not Offered
Special events (anniversaries and birthdays) - limit	Not Offered
Special events (anniversaries and birthdays) - days	Not Offered
Special events (religious events) - limit	Not Offered
Special events (religious events) - days	Not Offered
Cover for home emergency i
Cover for legal protection/expenses i
Cover for items away from home? i
Personal possessions cover whilst living in a nursing home or residential care setting i	£0.00
Medical equipment loan i	£0.00
Theft from bogus officials i
Storm and flood i
Fire, smoke, explosion, lightning, or earthquake i
Malicious damage i
Civil riot or commotion i
Collisions (Including animals, trees, satellites, and moving vehicles) i
Snow depth (cm) i	Hail or snow that’s extreme enough to damage hard surfaces or break glass
Rainfall (mm) i	25 mm per hour
Windspeed (mph) i	55 mph

Lloyds Bank

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

Premium bank accounts

Student bank accounts

Breakdown Cover

UK Breakdown Cover

Business Credit Cards

Everyday Business Credit Cards

Foreign Use Business Credit Cards

Car insurance

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Cashback and reward credit cards

Foreign use credit cards

Low rate credit cards

Money transfer credit cards

Home Emergency Cover

Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Charge for automatic reinvestment	2% (max £10)
Charge for transferring cash to another platform	£0.00
Early Account Closure Fee (12 months or less)	£0.00
Inactivity Charge	£0.00
Charge for selling holdings if not enough money in account to pay other charges	£11.00
Same Day Payment Charge	£20.00
Cost of receiving paper statements for a year	£0.00
App available i
Charge for telephone/postal share dealing	£35.00

Cost (Year 1) i	£278.33
Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Does the provider have a mobile app?
Charge for selling holdings if not enough money in account for charges	£0.00
Completing paper applications	£0.00
Cash withdrawal by BACs	£0.00
Same day payment/payment by CHAPs	£20.00
Early account closure fee	£0.00
Cost of receiving paper statements for a year	£50.00
Charge for transferring cash to another platform i	£0.00

Representative APR (on £5,000 loan, 36 month term)	Illustrative rates shown
Unpaid Repayment Fee i	£25.00
Early settlement fee (Days interest)	58 days
Available to new customers? i
Eligibility checker
Minimum borrowing amount	£1,000.00
Maximum borrowing amount	£50,000.00
Minimum borrowing length	12 months
Maximum borrowing amount	84 months

Interest Rate (AER) i	3.7%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i	Earlier access costs 180 days interest

Interest Rate (AER) i	4.25%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i	Earlier access costs 180 days interest

Interest Rate (AER) i	4.1%
Minimum Opening Balance i	£1.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£50,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	1.5%
Maximum Balance i	£9,000,000.00
Part of FSCS i
Withdrawal Penalty i
Additional Information i	This account will become an Instant Access Savings after 12 months.
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	Must be a Club Lloyds current account customer
Penalty free withdrawals? i

Interest Rate (AER) i	1.05%
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
Additional Information i	This account will become an Instant Access Savings after 12 months.
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Interest Rate (AER) i	2.25%
Maximum Balance i	£9,000,000.00
Part of FSCS i
Withdrawal Penalty i	If less than 4 withdrawals are made per year a higher rate will be paid
Additional Information i	This account will become an Instant Access Savings after 12 months.
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	Must be a Bank of Scotland current account customer
Penalty free withdrawals? i

Interest Rate (AER) i	6.25%
Maximum Balance i	£4,800.00
Withdrawal Penalty i
Minimum Monthly Investment i	£25.00
Maximum Monthly Investment i	£400.00
Penalty free withdrawals? i
Minimum Opening Balance i	£25.00
Minimum Age to Open Account i	18
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	Customer must have or open a Club Lloyds account.
Notice Period i
Fixed Term Length i	12 Month Bond
Additional Information i	Account reverts to an Easy Saver account after 12 months.