How to access one of the highest paying regular saver accounts
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How much does the Club Lloyds Monthly Saver pay?
The interest rate on this account is now 8% AER, making it one of the highest-paying savings accounts available. The rate is fixed for 12 months.
How does the Club Lloyds Monthly Saver work?
Since it’s a monthly or “regular” saver, that doesn’t mean you can whack a load of cash in there to rake in the interest.
For a start, there’s a monthly limit of £250 that can be added each month for a year. So the most you can add to the account is £3,000. There’s also a minimum of £25 a month, though you can skip months if you choose. If you do, you won’t be able to carry over any unused allowances.
Unlike with most regular savers, you can withdraw the money during the year without penalty, though you won’t be able to add it back in.
When is interest paid?
The account closes after 12 months, which is when the interest is paid. The money will then be moved into a standard Lloyds savings accounts, so you’ll want to transfer that to a better paying account at the time.
How many can you open?
You can only open one Club Lloyds Monthly Saver every 12 months.
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How much could you make in a year?
Andy’s Analysis
Remember, this is a monthly saver, so the interest is calculated a little differently to normal accounts.
Let’s say you pay in the full £250 every month, that would give you a balance of £3,000 at the end of the year. 8% interest on this is a huge £240.
But that’s forgetting that most of the money saved won’t have been in the account for a year. In fact, only the first month’s deposit will earn the full 8% for a year.
The subsequent deposits will earn less as a result. So the second lot added will be there for 11 months, and earn 11/12 of the full year’s interest. And so on.
That means you’ll only earn £130 on the full £250 a month saved.
Head to this article for more on how regular savers work.
Who can get a Club Lloyds Monthly Saver?
The account is only available to customers who have not already had one of these monthly savers in the last 12 months. This means if you have one at a lower rate you’ll need to wait until that matures before opening up a new one at the latest interest rate.
You’ll also only be able to open one of these savings accounts if you have a Club Lloyds current account. This account comes with a £3 monthly fee though you can avoid that by depositing £2,000 into the account each month (it doesn’t need to stay there).
You’ll also get a choice of one Lifestyle Benefit each year. This can be one of the following:
- 6 Vue or Odeon cinema tickets
- 12 Rakuten movie rentals
- One annual magazine subscription
- One annual Gourmet Society membership
You can read more about the account and these freebies in my Club Lloyds account review.
My Club Lloyds current account review
Find out more about the account requirements and freebies in my dedicated Club Lloyds review
How do you open a Club Lloyds Monthly Saver?
Once you have the account, you can simply open the Club Lloyds Monthly Saver from your online or app banking.
The first payment needs to be made within 28 days of opening the account. After this, you’ll need to add the money by the 25th of each month.
You can add cash by standing order (not a bad idea to ensure you don’t forget), or just transfer it from a different account.
You can only open one of these in your name, even if you have both a solo and join Club Lloyds account.
Featured deal
Customer rating
3.9/5
- Switch bonus£240
- Perks8% regular saver
- Monthly fee0
- Offer endsUnknown
- FSCS Protected? Yes
- Bonus requirements To get the £240 switch offer, you need to complete a full switch with the Current Account Switching Service. Then, within 60 days of your initial switch request, you need to set up two active direct debits, deposit £1,500 into the current account, set up a Santander Regular Saver, and deposit £200 into it.
- Regular saver 8% (variable) regular savings account. Includes 5% (variable) bonus for 12 months
- Existing customers? You can't have held a Santander account on 1 January 2026.
Club Lloyds Monthly Saver summary
Club Lloyds Monthly Saver
| Account name | Club Lloyds Monthly Saver |
| Interest rate | 8% AER (fixed) |
| Max monthly deposit | £250 |
| Min monthly deposit | £25 (months can be skipped) |
| Carry over unused allowance? | No, and money must reach account by 25 of the month |
| Account closes | After 12 months |
| Withdrawals | Yes, but money can’t be replaced beyond that month’s allowance |
| Requirements | Must have a Club Lloyds current account |
How does it compare?
At the time of writing this is the highest paying regular saver. Halifax and Santander also have 8% accounts, but there’s nothing higher than that.
It’s worth noting, however, that Halifax doesn’t need you to have a current account to open its 8% saver, so if that’s the only reason to get the Club Lloyds account, then you might be better off taking on the Halifax regular saver and going for a different current account.
You can see other regular saver rates here.
My husband and I have a joint club account. Can we both open the monthly savings acct at £400 or only one of us..?
Current customers don’t get the new rate ?
What a load