Lloyds Banking Group launches Cash ISA deal with £1,200 cash boost for millions of savers
Savers could pocket a cash bonus of up to £1,200 under a new ISA deal launched by Lloyds Banking Group.
The offer allows both new and existing customers to receive cashback, potentially giving households a sizeable boost.
The promotion, accessible through Halifax, Bank of Scotland and Lloyds, provides customers with the opportunity to receive up to £1,200 when moving their tax-free savings.
The offer launches on March 11, 2026 and remains open until May 31, 2026, giving savers approximately eleven weeks to initiate their transfers and qualify for the cashback rewards.
Who is eligible?
To qualify for the cashback, customers must be UK residents aged 18 or over and hold or open a current account with one of the three Lloyds Banking Group brands.
This account must stay open until September 30, 2026 to receive the payment.
A minimum transfer of £25,000 from ISA providers outside the banking group is required, with the funds needing to remain in place until at least 31st August 2026.
Savers transferring their Cash ISA can receive cashback based on the amount moved, with £150 paid for every £25,000 transferred, up to a maximum payment of £1,200. The cashback is structured as follows:
- £25,000 to £49,999.99 transferred: £150 cashback
- £50,000 to £74,999.99 transferred: £300 cashback
- £75,000 to £99,999.99 transferred: £450 cashback
- £100,000 to £124,999.99 transferred: £600 cashback
- £125,000 to £149,999.99 transferred: £750 cashback
- £150,000 to £174,999.99 transferred: £900 cashback
- £175,000 to £199,999.99 transferred: £1,050 cashback
- £200,000 or more transferred: £1,200 cashback (maximum payment)
The offer is available through Halifax, Bank of Scotland, and Lloyds
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PASimon Caddick, Savings Director at Lloyds Banking Group, said: “With our new Cash ISA Transfer offer, we’re giving customers the opportunity to boost their savings with both tax-free interest and up to £1,200 cashback.”
He added: “No matter what your savings goals are, ISAs provide a range of tax-free options to help you meet them.”
Savers participating in the scheme can select from several Cash ISA types to suit their needs, including instant access accounts for those wanting flexibility, limited access options, or fixed term products for those prepared to lock away their funds.
Junior ISAs are excluded from the promotion.
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Lloyds Banking Group launches new Cash ISA cashback offers
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Transfers initiated before the deadline but completed by August 31, 2026 will still qualify for the cashback payment.
The Lloyds Banking Group promotion enters a fiercely competitive market as savings providers vie for customers during what experts describe as a “golden window” for ISA deals.
HSBC UK launched its own incentive earlier this week, offering up to £500 cashback for those depositing or transferring at least £20,000 into eligible ISAs between March 9 and May 11.
The period from March to May is typically where we see providers battle it out for a slice of cash Isa balances
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GETTYPersonal finance expert Andrew Hagger of Moneycomms.co.uk said: “The period from March to May is typically where we see providers battle it out for a slice of cash Isa balances, but this year the fight could be bigger than ever.”
With the new tax year beginning on April 6, savers have limited time remaining to utilise their current annual ISA allowance.
