Lloyds launches new current account offering over £100 worth of monthly benefits | Personal Finance | Finance

Lloyds Bank has launched a new current account offering customers benefits worth more than £100 every month.

To be eligible for the Premier account, customers must pay in £5,000 each month or have £100,000 of savings or qualifying investments with Lloyds. The monthly fee of £15 is refunded each month if a customer meets the eligibility criteria. Commenting on the new account, Jo Harris, director of consumer relationships at Lloyds, said: “We know customers are busy, often time-poor, with work, family and personal commitments all clamouring for attention. Lloyds Premier delivers a massive range of perks, worth over £100 every month.”

She added: “Our customers have told us what they want to achieve financially and what’s holding them back – so we’ve developed a unique account, designed to meet their needs, which will help empower them to reach their financial goals.

“The account comes with cashback and credit interest, which means many people will make money by having a Lloyds Premier account.”

Some of the Lloyds Premier perks include a Bupa Family GP and Wellbeing subscription service, a 1% cashback on eligible debit card spending (up to £10 per month), and a 0.2% discount on residential new mortgages and remortgage rates.

Other perks include ready-made investment portfolios with zero management fees for the first year, and credit interest paid (at two rates) when two direct debits are paid from the account per month.

The account comes with “lifestyle” benefits, such as a choice of 12 months of Disney+, six cinema tickets, an annual digital Coffee Club or Gourmet Society membership, or an annual magazine subscription.

Customers can also benefit from fee-free spending abroad on a debit card and a £100 interest-free overdraft.

Ms Harris added: “Our new Lloyds Premier account is the latest way we are delivering for our affluent customers, offering experience-led, tailored and personalised solutions in financial, health and lifestyle, while growing our presence in this part of the market.”