Back

LHV Bank Limited Bank Logo

LHV Bank Limited: Easy Access Account

Product overview

Interest rate
4.28% AER Help content for Annual rate
Rate type
Variable
Term
Variable
Min / max amount
£1,000 - £85,000
Money available
Within a few days
14 day cooling-off period available
Yes
Interest added to account
Monthly
Deposit guarantee
FSCS protection up to £85,000

Product details

Account name

LHV Bank Limited: Easy Access Account

What is the interest rate?

4.28% AER / 4.2% Gross AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year. Accrued interest is calculated daily, compounded monthly and paid gross without prior deduction of tax. Interest is credited monthly on the last day of each month.

Can LHV Bank Limited change the interest rate?

The interest rate applicable to your deposit is variable. Should the bank set a date to lower the interest rate, you will be given a minimum of 14 days' notice. You may receive less if the rate increases.

What would the estimated balance be after 12 months based on a £1000 deposit?

The estimated balance after 12 months on a deposit of £1000 is £1,042.82. This projection is for illustrative purposes only and does not take into account individual circumstances

How do I open and manage my account?

To open this savings account, you must apply online through Aviva plc. Savings accounts at LHV Bank Limited are only available through this online application process, and to be eligible to apply, you must: ●      Be a UK resident who is aged 18 or over ●      Hold a UK bank or building society account from which you will fund your application ●      Have a valid mobile phone number and email address ●      Have a UK National Insurance Number Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) check. The minimum amount you can open and operate this account with is £1000.00.  You can top up your account with the minimum amount of £500 per transaction and the maximum balance you can have is £85000 (per product and banking institution). You can manage your savings account through Aviva plc by logging into your Aviva plc Account. You can contact Aviva plc by telephone, by email or in writing by using the contact details provided in the Terms & Conditions. Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

Can I withdraw money?

Raisin Platforms Limited (RPL), will administer the deposit on your behalf. Funds will appear in RPL's account by the following business day from funding your application at the latest. Funds will be remitted to LHV Bank Limited by RPL on the next business day after arriving in the RPL account. There is no limit to the amount of withdrawals you can make; however, you are unable to withdraw less than £500 in a single withdrawal transaction and a withdrawal will not be authorised if it leaves your balance below £1000.00. To withdraw below your minimum balance you may close your account at any time by requesting closure from within your customer portal.It can therefore take up to 2 business days for an ordered product to be set up and start earning interest, and up to 2 business days for withdrawals and closures to be processed and funds received back in your Aviva plc account. Cash and deposits will be held by RPL in trust for you under FCA client money and asset rules.You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account. For further information, please refer to clauses 3.5 and 3.6 of the Raisin Trust Terms and Conditions.

Additional information

Raisin Platforms Limited (RPL) will administer the deposit on your behalf and act as Bare Trustee. Funds will appear in RPL's account by the following business day from funding your application at the latest. Funds will be remitted to LHV Bank Limited by RPL on the next business day after arriving in the RPL account. It can therefore take up to 2 business days for an ordered product to be set up and start earning interest, and up to 2 business days for withdrawals and closures to be processed and funds received back in your Aviva Save account. All cash in transit and deposits once established, will be administered by RPL and held by RPL in trust for you. You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account.  For further information, please refer to clauses 3.5 and 3.6 of the Raisin Trust Terms and Conditions.

Deposit guarantee

The FSCS is the United Kingdom’s statutory deposit guarantee scheme. If an FSCS-protected bank fails or is unable to meet its financial obligations, the FSCS can provide compensation for eligible customer deposits up to a limit of £85,000 per person, per bank. The FSCS’ £85,000 protection limit applies to all deposits held with a bank (including current and savings accounts), as well as any deposits held with intermediaries of the same bank (for example, where a bank operates multiple banks under different trading names). Read our dedicated FAQ page to learn more about the FSCS.

About LHV Bank Limited

LHV Bank, a fully licensed UK bank, specialises in Banking Services for global fintechs, retail consumer Savings and SME Lending solutions for UK businesses. The SME Lending division offers commercial real estate investment loans and trading loans from £0.5m to small and medium-sized businesses in the UK. As a leading Banking Services provider, LHV Bank delivers a wide range of services, including real-time multi-currency payments, accounts, acquiring, indirect scheme access, open banking, and FX solutions. Over 200 renowned fintech companies utilise LHV Bank to serve more than 10 million end customers and to access a pool of 500 million potential customers across the UK and Europe.

About Aviva Save

Aviva works with partner companies to provide Aviva Save.

Raisin

We've teamed up with Raisin to offer you Aviva Save. Raisin provides savings marketplaces to over 1,000,000 customers across 30+ countries.

Raisin provides the Aviva Save Marketplace and also acts as a Trustee for some of the partner banks.

ClearBank Ltd

Your Aviva Save transaction account is provided by ClearBank, who look after money transfers from your current account to Aviva Save.

ClearBank provides the Aviva Save transaction account that manages transactions with your own bank.

Interest rates

  • When we show the interest rate as an AER, it stands for Annual Equivalent Rate
  • This is what the interest rate would be if it was paid once a year
  • It helps you compare different accounts, by showing you how much you would earn on your savings if the accounts were held for the same amount of time
  • The rates offered by our bank partners can change at any time
  • When you apply you'll get the rate that's in effect at the point your account is set up, so it's important to transfer money into Aviva Save as soon as possible after you apply